Batsumiya is 47 years old. She lives with her husband and a daughter in their apartment in Dundgovi province, Mongolia. Her husband, Suhbaatar, works at local government organization as a driver. Her daughter, Urtnasan, is 20 and a university student. Batsumiya started her own clothing retail business in 1990. She has been running her business in a rented stall at the local market. She is a hard-working and friendly woman who has built a close relationship with her customers and suppliers. Her siblings work and live in South Korea. Batsumiya is requesting loan of 3,500,000 MNT to purchase a large amount of well-designed, high quality clothes inventory from Korea using her network to sell at her business.
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.