Batmunh is 64 years old lives alone in her apartment in Dornogovi province, Mongolia. She has been running a clothes retail business in the local market for years. She used to sell used bedding and other house decoration items. She is an experienced and hard-working woman who does very good bookkeeping of her business income and expenses. Her children are married and live in Ulaanbaatar city. She helps them to live on their own. She is now requesting a loan of 2,000,000MNT to purchase large amousnt of clothing inventory to sell for the new year when sales peak.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.