Bulgantamir B. is a 26-year-old married man with one infant son. He lives with his wife and son in Arhangai province in central Mongolia in their ger, a traditional Mongolian nomadic tent. Bulgantamir operates a dairy products and meat-trading business in his town with the help of his wife. He started both businesses five years ago with working capital of 1000000 MNT and has built a stable operation over the years. He usually purchases his dairy and meat products from herders in the countryside and sells them in Ulaanbaatar, a capital city of Mongolia. Today, his working capital exceeds 2300000 MNT and his earnings have enabled him to provide for his family. For the future, Bulgantamir hopes to expand his businesses and to buy his own apartment for his family in Ulaanbaatar. Bulgantamir is an open-minded and hard-working man. He is requesting a 2000000 MNT loan to purchase more dairy products as well as meats for his businesses.
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.