Erdenebaatar, 32, is married and lives with his wife and a newly born child in Tuv province of Mongolia. He worked for a brick factory for seven years in Japan and started a mud brick making business when he came back to Mongolia in 2009. He currently hires one worker for his small factory and operates his business with a 380V brick maker machine. He also owns a truck that is used for his business. Furthermore, he wants to expand his brick making business and operate a bigger brick factory with many workers. He is a modest and hardworking person who says, " I want to finish my factory building – I have done 40% of the construction work so far." Erdenebaatar is requesting a loan of 2,500,000 tugriks (MNT) to buy more cement as the price is much cheaper in the winter time.
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.