Buyant is 37 years old and lives with his wife and two kids in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. His wife helps with his business while the elder child goes to school and younger one goes to kindergarden.
Buyant started his garment retailing business in 2008 by renting a counter in market. He also is a part time taxi driver. Now that winter is approaching, he needs winter supplies to sell. He is requesting 3,500,000 MNT to buy mass a amount of winter clothes.
Buyant is a sharp and hardworking man who says "my kids are growing and they will go to college someday, so I need to act aggressively in order to be able to pay for their college fees."
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.