Bayarmunh, 38, is married and lives with his wife and two sons in Songinohairhan district of Ulaanbaatar, the capital of Mongolia. His wife works as a salesperson for a company and his older son attends a local school; their younger son stays at home. They live in a ger, a Mongolian nomadic housing tent, on a small plot of land that they own.
In 2005 he opened a sports club where he works as a trainer. His students have won medals at several local and national competitions. He wants to expand his club in the future. Bayarmunh is requesting a loan of 1,800,000 MNT to purchase exercise equipment for his club and to finish his winter house which has almost been completed.
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.