Bodildo H. is 46 years old and lives with his wife and five children in Hovd province in western Mongolia. He and his family all live together in a small house. His two oldest children currently attend university, his middle two children are secondary school students, and his youngest is in kindergarten. H. operates a clothing trading business in his town. To supplement his income, he rents out two rooms in his house to local college students. H. started his clothing business in 2004 and has since gained much experience in his trade. He attributes his success to the good reputation he has built with his customers. He is requesting a 2,500,000 tugrug loan to purchase fall and winter clothes to sell in the upcoming seasons.
Bodildo's wife, who runs the clothing business with him, is pictured above.
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.