Odbayar is 38 years old and lives with his wife and three children in Ger (Mongolian Yurt) in Bayanhongor province, Mongolia. His wife helps with his business, and his children are school and kindergarten students. He started his grocery shop business in 1996. His shop location is good, and his shop is well-known around the neighborhood for his nice service and quality products. Ever since he opened his shop, his business has been expanding steadily. Many buildings have been built around the neighborhood; therefore, his market demand is increasing. He is requesting 2,500,000 MNT to purchase more grocery supplies at wholesale prices.
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.