Tsagaanbandi T., 41, lives with his wife and two sons in a ger, a Mongolian traditional nomadic housing tent in Zavhan province, Mongolia.
His older son goes to a local secondary school while his younger son stays home with his mother.
He operates a taxi service business in his town. He started his business in 2008. Since then he has been able to stabilize his business and is planning to continue it in the future.
Unfortunately his younger son is ill and requires frequent treatment. Therefore he spends all of his earnings for his son's treatment.
He is a diligent man who says, "I am very thankful to your bank for giving me the loan for my son's treatment."
He is requesting a 650,000 MNT of loan to pay his son's treatment expense.
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.