Badral is an 18-year-old who lives with his parents and his brother in an apartment in Ulaanbaatar city of Mongolia. His parents deliver bread and his brother has been disabled due to a factory accident. He has been delivering bread with his parents for six months. Now he wishes to drive a private taxi. He is a hardworking and diligent man who says, "Now that I am old enough, I want to support my family and to build my own life." He is requesting 1,500,000 tugriks to buy a new car.
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.