Baasan is 57 years old and lives with her husband and two kids in a ger (a Mongolian yurt) in Arhangai province, Mongolia. Her husband is retired and her two kids have both graduated college and are employed. She started this commodity retail business in 2000 by renting a counter in the market. Her business is stable and she is a respected businesswoman in the market. Now that her kids grown and independent, she's concentrating on her business by renting another counter in the market. However her stock is not enough to run another counter. Therefore, she's requesting 1,500,000 MNT to buy supplies. She's a sharp and hardworking woman who says, "Over the years I never had an opportunity to expand my business- now that I have, I don't want to lose my opportunity."
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.