Beibithan A. is 43 years old and lives with his wife and three sons in a ger, a traditional Mongolian nomadic housing tent, in the Bayan-Ulgiy province of Mongolia. His oldest two sons attend university and his youngest son attends a local high school.
Beibithan operates a retail clothing business with the help of his wife. He started a clothes-selling business at a local market named Turlik in 2000, and began to sell winter clothes in a rented stall in Kos Terek, one of main market in his town. His business has grown some levels. He also plants various kinds of fruits and vegetables and sells them to the local market to supplement his earnings.
He is a hardworking and open-minded person who says, "I want to expand (my) vegetable growing business by increasing (the) land size where I plant (a) variety of vegetables, so that our family can earn extra income from this business."
Beibithan is requesting a 2,500,000 Mongolian Tugriks loan to import more clothes from Erlian, a Chinese border city, in order to grow his working capital.
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.