Byambadorj S. is 37 years old and lives with his wife and four children in Hovd province, west of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His elder three children attend a local middle school and the youngest child goes to a local kindergarten, while his wife is currently unemployed. Byambadorj has been working as a plumber in his town since 2000. He also works for a local kindergarten as a fireman during the winter season. Byambadorj is a hardworking person who is requesting a 3,000,000 MNT loan to purchase a car, by which he would transport people and increase his earnings in order to improve his family's quality of life.
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.