Bolor-erdene is thirty-eight years old and lives with his wife and two kids in a Ger (Mongolian yurt) in Hovd province, Mongolia. His wife helps with his business and his two kids are school students. He started his business journey in 2003 by trading raw materials (wool, cashmere, leather). Now he expanded his business by retailing fruits, vegetables, and garments (during summer).
Now that the Mongolian holiday season is approaching, demand for his fruits and vegetables is high. Therefore he is requesting 1,200,000 MNT to buy more fruit at wholesale prices. He is a sharp and hardworking man who says "I try not to lose any opportunities to expand my 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.