Bayarsaihan is 42 years old and lives in Arhangai province, Mongolia. He lives in a 'ger', which is a traditional Mongolian nomadic housing tent. Bayarsaihan operates a mobile products trading business in the countryside surrounding his town. He has been operating his business since 2004, and has steadily expanded his business over the years. Currently, his working capital is 1,900,000 MNT.
With his profits, he purchased a truck for his business which he uses to transport his products. Bayarsaihan is an enthusiastic person and has great business skills. He has many plans for the future and hopes purchase a Russian jeep which offers a more comfortable ride through on the rough country roads. He is requesting a 2,300,000 MNT loan to purchase flour and a 'ger' cover for his mobile products trading 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.