Adiya B. is 46 years old and lives with his mother in Zavkhan province in western Mongolia. He and his mother live together in a ger, a traditional Mongolian nomadic housing tent. B. operates a consumer products trading business in his town. He sells a variety of household goods out of a stall at the local market. To supplement his income, he also sells items purchased from China, warm hats and scarves, during the fall and winter months. B. started his business in 2000 after previously operating a hat-making business. Since starting his consumer goods business, B. has gained much experience as a businessman and has built a stable operation. For the future, his dream is to own and operate a trading center featuring many different types of businesses. He is requesting a $1400 loan to purchase hats and scarfs to sell this coming winter. Increase inventory means increased revenue for Adiya.
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.