Bayrjargal is a widow with two children. She lives with her 21-year-old son and 22-year-old daughter in Zavhan province, one of Mongolia's western provinces. Both of her children are university students, and during their summer holidays they come to their mother and help with her business. Bayarjargal operates a vegetable trading business in her town. She has been operating her business for 17 years and has steadily expanded her business.
Bayarjargal harvests seven tons of vegetables from her own plot of land each year. She has been planning to purchase more land to grow vegetables as well. She is a very hardworking businesswoman. Besides her business, she manufactures Buriad-style boots in order to earn extra income for her family. With her business profit, she has been paying for her two children's university tuition fees and providing money for her family expenses. Bayarjargal is a great mother who has been working hard to provide a better life and education for her two children. She is requesting a 1,500,000 tugrug (~ 1075 USD) loan to purchase irrigation equipment for 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.