Tilekbai is 44 years old and lives with his wife and 4 kids in a Ger (tent), in Mongolia. His wife is a waitress; eldest son is in college and the other children are in school.
He started his livestock trading business 2005 by renting a space in a local market. He buys his stock from rural areas.
His living condition is average. Now that winter is approaching, he need more assets. He is a hardworking and diligent man who says, "I have a mission to graduate my kids from college." He is requesting 3,000,000 MNT to purchase more livestock to increase his assets.
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.