Bohchuluun is 51 years old and lives with his wife and four children in a ger, a Mongolian yurt, in Hovd Province, Mongolia. His oldest son is a student, and the younger three attend secondary school. He manages a meat-trading business in his town with the help of his wife. He started his business in 1990 and gained much experience. In addition, he works as a guard at a public organization in order to supplement his earnings. He is a responsible businessman. He is requesting a 1,500,000-Mongolian-togrog (MNT) loan to purchase meat for his 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.