Sainbayar is 36 years old and lives with his wife and three daughters in a "ger", a Mongolian yurt, in Uvs province of Mongolia. His older daughter is a pupil while the younger two are in kindergarten. He manages a grocery trading business in his town. He is responsible for purchasing and transporting products and his wife is responsible for selling them to their customers.
In addition Sainbayar conducts a taxi service business in order to supplement his earnings. They collect and put aside 5000 MNT daily, so they can have savings for future use. Sainbayar is a polite man who says, "I am doing my best to better my living conditions." He is requesting a 3,000,000 MNT loan to purchase more grocery items 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.