Ser-Od is 49 years old. He is married and lives with his wife and one of his three sons in Uvurhangai province, Mongolia. They live in a house on a small plot of land that they own. Ser-Od's two younger sons attend college in Ulaanbaatar, the capital city of Mongolia.
Ser-Od operates a carpentry business and a taxi service. He began his carpentry business in 2000, and he takes orders to make wooden furniture. He made all the furniture in his own house himself. In addition to his woodcraft business, he also operates a taxi service between towns using his Russian jeep. Ser-Od is a hardworking and active person who is trying hard to make a better life. He is requesting a loan of 1,500,000 MNT to purchase more wood and materials for his business.
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.