Bayarsaihan, 26, lives with his family in a ger, a Mongolian yurt, in the Huvsgul province of Mongolia. His wife works as a hairdresser at a beauty salon and his daugther attends local high school. Bayarsaihan started to sell clothes with his sister in 2009. Aside from this business, he runs a block manufacturing factory at his home. So far, his businesses are running successfully. He plans to purchase many clothes and goods before the new school year starts.
He is a hardworking and diligent man who says "I want to buy many clothes and goods before September when the sales will go up dramatically." He is requesting 1,500,000 MNT to purchase clothes and increase his sales turnover.
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.