Odbayar M. is 28 years old, married, and has one child who attends school. They live in the Songino-Hairhan district of Ulaanbaatar, a capital city of Mongolia. Odbatar operates a computer service out of a rented stall at the local trade center. He started his business in 2008 after graduating from Technical Institute as a programmer in 2007. After years of operation, he has gained a significant experience in his business. Odbayar is a modest and honest man and plans to continue to run his business in order to have his own work place in the future. He is requesting a 900,000 MNT loan to purchase computer software and devices for his computer service center.
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.