Bold B. is 51 years old and lives with his wife and four daughters in the Hovd province of western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His daughters all attend a local school.
Bold operates a transportation service between local sub provinces using his own Russian jeep and car. He has been working as a driver since 1990 and started his own business in 2000. He has gained a lot of experience since then.
After years of successful operation, he was able to purchase a pavilion in the local market where his wife operates a clothing retail business, which is profitable during winter and spring months.
Bold is a principled and hardworking man who says, " I am planning to save more money to buy my own house and fence for my family."
He is requesting a 3000000 MNT loan to purchase fabrics for his wife's 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.