Bulbul M. is 41 years old and lives with her husband and two teenage sons in Bayan-Ulgiy province of western Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her oldest son, 17, is a student and works and studies in Kazakhstan while her youngest son, 16, attends a local high school. Her husband works in a construction company. Bulbul operates a clothing retail trading business in her town. She used to work as a clothing salesperson where she sold other people's clothes and received a salary. Based on her experience, she started her own business in a rented stall at the Hurd trade center in 2008. She is planning to expand her business and import more clothing items from Erlian, a border city in China. She wants to open her own shop when her business reaches a sustainable level. Her earnings have enabled her to buy a new house after selling her old one. Bulbul is a very modest and hardworking woman and says, " All I want is to continue operating my business with success and provide for my children's education. " She is requesting a 3,000,000 MNT loan in order to purchase more clothes from China which she can sell in her market.
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.