Batsuh's husband is a guard for the building of City Water Treatment Agency. In 2000, she started selling raw meat at the local market. In December 2001, she started taking loans from XacBank, Kiva's partner in Mongolia. The result has been very good and all the loans were paid back on time.
When she began the business, she only had a working capital of 50,000 tugrig (1 USD=1,5000 tugrig). Now it has increased to 600,000 tugrig. With the help of the loans, she has improved her family's living conditions and paid her son’s college tuition. She is entrepreneurial and good at what she does. In the future, she hopes to expand her business and help all her children to find jobs. In addition, she would like to have her own place to run the business. With this loan, she will buy raw meat for her business.
About XacBankThis 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.
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