Anhbayar B., age 27, trades in raw materials, such as sheepskin and wool, at his trading business in his town. He lives with his wife and daughter in a fenced house in the Uvurhangai province in Mongolia. Anhbayar purchases his materials from sources in the countryside, collecting them with his own truck and selling the materials in Ulaanbaatar, the capital city of Mongolia, for a profit.
He started his business in 2004, by purchasing a raw materials in the local market and selling those materials to wholesalers. After years of successful operation, he has managed to expand his business. With his earnings, he was able to afford to buy a new truck in order to transport his materials.
Anhbayar has gained a lot of experience and knowledge over the years and he hopes to use this experience and knowledge to keep his business growing. His future goals are to continue growing his business and to provide a good education for his child.
He is requesting a 3,500,000 MNT loan to purchase more raw materials from the countryside and rural areas in order to increase sales.
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.