Munhbat is 27 years old and lives with his parents and brother in a ger (a mongolian yurt) in Bayanhongor, Mongolia. His father is a taxi driver, his mother runs a coal retail business and his brother is a college student. Munhbat started his cell phone repair and retail business in 2009 and his business has been sustainable ever since. He is known as the 'gold-handed kid' in the neighborhood, a nickname he was given for being an excellent repairman. Munhbat has a bright vision to open another branch of his workshop. He is an excellent, skilled and hardworking man, but as he says, "Now that cell phone's are more advanced, my tools and kits are too old to repair". Munhbat is requesting 2,000,000 MNT to buy some tools and cell phone parts.
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.