Bulgamaa is 42 years old and lives with her son in a ger, which is a Mongolian yurt, in the Mongolian province of Bayanhongor. Her son is a school student. Her husband passed away. Her husband started the grocery trading business in 2000. After her husband died in 2008, she continued the business. She buys goods from the wholesalers and retails them in the local market. Recently, she bought a small piece of land to live on. Because of this purchase, she is lacking money. She is a strong and hardworking woman who is requesting 1,000,000 MNT to buy goods from Ulaanbaatar at whole sale price to sell.
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.