Bayarmunh D. lives with his wife in their own house in Ulaanbaatar, the capital city of Mongolia. He runs his business with the help of his wife. Their living standard is normal. He sells small construction auxiliary materials as well as cellphone units in Jobi Trade Center - one of the biggest construction markets, which is located at the city center. His business daily income ranges from about $80 to $95 and his working capital reaches approximately 2,300,000 MNT. He is very experienced in this field. He plans to expand his business operation further. Bayarmunh is requesting a 1,050,000 MNT 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.