Kabidolda H. is 52 years old and lives with his wife and three children in Bayan-Ulgii province in western Mongolia. He and his family live in a ger, a traditional Mongolian housing tent. Kabidolda operates a transportation business in his town. He drives a minibus to transport people while his wife helps him by working as a conductor in his minibus. He works his business 15 days in a month. Kabidolda is a hardworking and honest man and is requesting a 1,600,000 MNT loan to purchase tires and a new engine for his bus.
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.