Bulgamaa is 42 years old and lives with her husband and two children in Arhangai province, Mongolia. She and her family live together in a 'ger', the Mongolian nomadic tent. Bulgamaa operates a dairy product trading business in her town. She sells a variety of diary products, including milk, curds and yogurt, at the local Hasu trading center.
Bulgamaa started her business in 1991 with working capital of 50,000 tugrugs (~ 36 USD), and she has steadily expanded her business since that time. Today her working capital has grown to 550,000 tugrugs (~ 400 USD). She has gained valuable experience as a businesswoman and has a loyal customer base. Her husband supports her business and both of them are very hard-working people.
Bulgamaa makes an effort to communicate effectively with others. She is requesting a 600,000 tugrug loan to purchase more dairy products for her business.
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.