Bahit is 36 years old and lives with his wife and two children in Bayan-Ulgiy province, Mongolia. He and his family live together in a ger, the Mongolian nomadic tent. His two children, ages 14 and 10, attend a local secondary school. Bahit operates a clothing business in his town with the help of his wife. He sells a variety of clothes to many customers.
Bahit has been operating his business since 2003, and has steadily expanded his business. During the summer, Bahit and his wife, Janargul, sell their products in two places, but during the winter they sell together in one place. They purchase their products from Ereen, a Chinese border town, and sell them to their customers. Since they have started the business, their quality of life has been improving.
Bahit is a very hardworking person and he is focused on the future. He says, “I would like to purchase a car after my children grow up and graduate from the university.”
He is requesting a 3,000,000 MNT loan to purchase more inventory from Ereen to resell them for a profit
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.