Esbol is 24 years old and lives with his wife and child in a ger, a Mongolian yurt, in Bayan-Ulgii province of Mongolia. His wife is unemployed at the moment. He and his wife operate a livestock trading business. Right now, Esbol has no turnover capital. He is a diligent and hardworking man who says, "I want to do many things in life. I want to have my own business." He is requesting a 1,500,000 MNT loan to buy livestock from the countryside to sell in the city.
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.