Buhtumurchudur, 37 years old, lives with his wife and daughter in a small house in the Songinohairkhan district in Ulaanbaatar, the capital city of Mongolia. His wife, Tsesenjaw, is 32 years old, while his daughter, Enhjin, is 10 years old and in school.
Buhtumurchudur started a grocery store in 2006 with his wife. His business is sustainable and has many regular customers and suppliers. An honest and quiet-natured person, he is requesting a loan of 3,000,000 MNT to buy more inventory for his grocery store. Buhtumurchudur is planning on managing a supermarket in the future.
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.