Badampurev is 30 years old and lives with his spouse and three children in Khovd Province in western Mongolia. He and his family live in a traditional Mongolian housing tent called a "ger". His oldest two daughters, aged four and five, are in a local secondary school while the youngest one, aged one, stays home. Badampurev has operated a taxi service in his town since 2005. He transports people around his town as well as to different areas throughout Khovd Province. He has gained much experience over the years and is a trusted driver for his many customers. Besides his taxi service he also herds livestock in the countryside. Badampurev is a very hardworking person and is known for his good character. He is working hard to maintain his success and has much hope for the future. He is requesting a 500,000 tugrug loan to purchase mechanical parts for his car.
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.