Natsagdorj S., age 41, lives in his own apartment in Zavhan province, western Mongolia with his two sons. Since 2000 he has been operating a food trading business. Initially, he rented a small shop but he has built and completed a shop with his business revenues. Natsagdorj is a modest, clever and experienced businessman. He is saving for his children's future tuition fees. Natsagdorj is requesting a 3,000,000 MNT loan to purchase and import products from Erlian city, China.
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.