Mrs. Batnasan is 59 years old and lives with her husband in their Ger, a traditional nomadic home in the Dundgovi province of Mongolia. Her husband Ulambayar is retired and stays home helping his wife. Their children are all grown and live independently.
Batnasan retired from working as an accountant at a local company in 2012. She then started her own business of clothing retail by renting a counter at the local market. She now owns the small stall where she runs her retail store. She is a very hardworking and friendly woman who has built close relationships with her customers. She is now requesting a loan of 3,000,000 MNT to purchase a large amount of clothes to sell at her stall. She plans to save a small amount of money from her business profits for her grandchildren and their future.
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.