Tulga is 33 years old and lives with his wife and two children in an apartment in Hovd province, Mongolia. His younger son goes to a local secondary school. Tulga works at a Customs House as a driver. Besides his work he manages a clothing trading business with the help of his wife. He is planning to expand and continue this business. He is requesting a 3,000,000 MNT loan to purchase more clothes to sell.
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.