Oyunbold B. is 29 years old and lives with his wife and two year old daughter in Uvurhangai province, Mongolia. They live together in a ger, a traditional Mongolian nomadic tent. His wife is currently unemployed and takes care of her young daughter.
Oyunbold operates a transportation service business in his province which started in 2008 and has found success as a motorcycle driver. He owns one motorbike and transports people by it. In addition, he also operates a meat trading business by purchasing meats at wholesale price to sell back as a retailer at the local market to supplement his income. Currently he has stopped running his meat selling business for a while. When he obtained his first loan on June, 2008, he had not had any electronic products in his home, but since then he managed to improve his family's standard of living. His earnings have enabled him to buy electronic products for his home as well as to purchase his own land and fence. Moreover, he owns 10 goats that are being herded by his father. Oyunbold is a very hard working and creative person. He is requesting a 150,000 MNT loan to purchase spare parts in order to maintain his motorcycle.
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.