Gantulga is 36 years old and lives in his older brother's ger (Mongolian yurt) in the Sansar area of Ulaanbaatar city. He manages a photography business in his town. He makes and prepares photo albums for students and pupils. He is planning to renew his equipment with the loan received from Xacbank, one of the biggest banks in Mongolia. He is polite man who says, "I want to have my own photo studio in the future." He is requesting a 2,000,000 MNT loan to purchase equipment.
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.