Bavuu is 40 years old and lives with his wife and two kids in a ger (Mongolian yurt) in Zavhan province, Mongolia. His wife helps with his business, his elder son is college students and his younger daughter is school student. He started agriculture business in 2003 on his own land. Since vegetables are more profitable when retailed by himself, he moved to the center of the province and rented a counter in the market and sells vegetables. He needs a start-up cash in order to run a business. He is a sharp and diligent man who says"It is a big step for me. I calculated all the probable costs and risks therefore I am confident that it will succeed". He is requesting 1,300,000 MNT to rent truck for delivery his vegetables from Zavhan to Ulaanbaatar and sell them.
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.