T. Habal is 38 years old and lives with his wife and four children in Bayan-Ulgiy province in western Mongolia. He and his family live together in a small house. His oldest three children currently attend a local secondary school and his youngest is in kindergarden. Habal's wife, Juldiz, is also self-employed and operates a clothing business. Habal operates a raw material trading business in his town. His major products consist of sheep and goat skins. Habal started his business in 1999 by purchasing and selling the animal skins in his local area. However, to take advantage of higher demand and profit potential, he now transports and sells the skins in Ulaanbaatar, the largest city and capital of Mongolia. He continues to make progress with his business and uses his earnings to improve his family's quality of life. With the continued success of both of their businesses, Habal and his wife hope to use their earnings to add on to their home. Habal is requesting a 2,000,000 tugrug loan to purchase raw materials for his animal skins business and coal for his own use.
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.