Dulamragchaa D. is 42 years old and lives with his wife and two teenage sons in their ger (a traditional housing tent) in Uvurhangai province of Mongolia. Both sons, ages 16 and 14, attend a local high school. His wife has been operating a construction business specializing in interior decorating since 1990 and has built a stable operation.
From 2000 to 2009, Dulamragchaa operated a taxi service using his own car. In 2009, based on his wife's experience, he started selling plumbing supplies in a small pavilion. In the future, he plans to open his own construction store. He is a very hardworking man. He is requesting a 1,050,000 MNT loan to purchase a large number of plumbing supplies.
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.