Bulganbat is 43 years old and lives with her husband and three sons in a house in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Her oldest son is in the army, her second son is a driver who conducts a taxi service, while her youngest studies at university in Korea.
Bulganbat operates a vegetable-trading business with the help of her husband. Bulganbat is responsible for selling the vegetables and her husband is responsible for delivery. They started their business in 1993 and became quite popular amongst their customers because of the wide product selection. They have gained much experience and a good reputation.
To supplement their earnings Bulganbat’s husband drives his car during the night, transporting people. He has also recently been hired as a welder at a private company with a monthly salary of 200,000 tugrugs (~140 USD). For the future, they are planning to continue their business.
Bulganbat is a person who has a great passion to achieve her goals. She says, "I am working hard to open my own shop in the future." She is requesting a 2,100,000 tugrug loan to purchase more carrots, potatoes, cabbages, onions, etc.
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.