Delgersaihan, 22, is married and lives with his wife and son in Uvurhangai province of Mongolia. Ther live in a ger, a Mongolian nomadic housing tent, on a small plot of land that they own. He began selling clothes out of a rented stall in 2009. His current working capital is 2,500,000 MNT. He wants to expand his business and increase his working capital. He is a hardworking and motivated person who says, " As the spring season comes, people sell their cashmere and their purchasing power increases much more. I want to make more profit and save some money in order to build a house where we can have a comfortable life." He is requesting a loan of 2,500,000 MNT to purchase more clothes 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.