Tumurbaatar is 63 years old and lives with his wife in an apartment in Tuv province in Mongolia. He manages a grocery store business in his town with the help of his wife. He started this business in 2009 and is planning to continue it in the future. They sell a variety of grocery items such as flour, rice, fruits, vegetables, etc.
Tumurbaatar is a polite and hardworking man who says, "I want to have more inventories in order to increase my business sales." He is requesting a loan of 3,000,000 MNT to purchase grocery items for his 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.