S. is 28 years old and lives with his wife and two young children in the Uvurkhangai province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His wife stays home and takes care of their children. S. operates a computer service business where he does computer repairs and maintenance. He began his business in 2005 and since then he has gained a good reputation amongst his customers. S. would like to eventually have his own computer retail store so that he can expand his customer base and his profits. He is requesting a 3,000,000 tugrug (~2100 USD) loan in order to purchase computers and computer parts 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.