Zul is 35 years old and lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He and his family live together in a small house on a plot of land that belongs to his mother. During the day, he operates a meat trading business with his wife at the Huchit Shonhor, the most popular and crowded food market in Mongolia. He has been operating the business since 1995, and has steadily expanded the business and has become an experienced meat trader. He used a rental truck for his business until he purchased his own truck in 2007, which is helpful for saving transportation costs and increasing his profit. The meat trading business is one of the high profit businesses in Mongolia, and Zul's business is very important to him. He is requesting a 2,200,000-tugrug loan to increase his working capital.
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.