Tumurbaatar is 31 years old and lives with his wife and two children in a house in Ulaanbaatar, Mongolia. His wife helps with his business but is unable to work due to their recently born baby. Their elder son is a student. Tumurbaatar rents a motel and runs it. With the landlord's permission he is allowed to expand the motel. He is a sharp and hardworking man who says, "I thought I could build this extension on my own; however, it is difficult and I have to finish this before winter." He is requesting 2,500,000 MNT to buy heating and decoration materials for his motel.
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.