Bayambadorj is 33 years old and lives with his wife and two children in a ger, a Mongolian traditional nomadic housing tent, in Uvurhangai province, Mongolia. His wife works at a water supply company, while his two children, aged 6 and 11, attend the local secondary school.
He manages a transportation service business in his town. He started his business in 2000 with his own truck. Mainly, he transports coal and wood between the center of the province and Ulaanbaatar, capital city of Mongolia. He is also planning to start an iron trading business in the near future. Currently, the value of iron has been raised immensely. Bayambadorj is a hard working and polite man who possesses essential business and leadership skills. He says, "I want to have my own house in order to live comfortably." He is requesting a 1,000,000 MNT loan to purchase construction materials for building a house.
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.