Odbayar, 26 years old, lives with his wife and child in a ger, a Mongolian yurt, in Hovd province, Mongolia. He was a taxi driver from 2009 to 2011 in his local town. Since the spring of 2011, he has transported people and goods from Hovd province to Bulgan province. He also brings goods and supplies from the west side of Mongolia and goes to the countryside to exchange these goods and supplies for animal raw materials with nomadic herders. He then sells the collected raw materials at the local market. Odbayar is a diligent man who says, "I want to fix and improve my truck. I also plan to buy a commercial space at the local market so that my wife can sell goods and products." He is requesting a 2,000,000 MNT loan to buy spare parts to fix his truck.
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.