Natsagdorj T. is 40, married and the father of two sons. Both his sons go to an elementary school. His family lives on rented land in Ulaanbaatar, the capital city of Mongolia. In 2004, he started running a business at the "Harhorin" outdoor market selling men's and women's apparel. Natsagdorj's spouse, Enhtsetseg, helps her husband's business by going to Beijing, China once every two months to buy cheap clothing. With his profit Natsagdorj has opened a savings account in the name of his eldest son to prepare for his future. He also paid for his youngest son's tuition to study in an English language course in Ulaanbaatar. Natsagdorj is an open-minded and cheerful person. He requests a loan to buy more clothing to increase his business inventory.
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.