Ganbold is 36 years old and lives with his wife and two kids in a ger (mongolian yurt) in Bayanhongor province of Mongolia. His wife makes traditional boots and his kids go to private school. He started his private taxi service in 2008 using his own car. Also, he with helps operate his wife's shoe-making business. They make shoes that are very stylish and in high quality. He is a hardworking, diligent man who says "I love to make shoes and we're trying to make different designs of shoes as well." He is requesting 500,000 Mongolia tughriks (MNT) to buy materials to make shoes.
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.