Munhbat is 28 years old and lives with his wife and only daughter in a house in Sansar of Bayanzurh district, Ulaanbaatar, the capital city of Mongolia. His wife works at G-Mobile, Telecommunication Company.
Munhbat manages a souvenir trading business at Sunday Plaza, one of the largest and crowded trading centers in Ulaanbaatar city. He has been managing his business for 3 years and has gained much experience. He is planning to expand his business in the future. He is a generous man who says, "I am planning to rent one more stall in order to increase my business sales." He is requesting a 3,000,000 MNT loan to purchase more souvenirs for his business inventory.
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.