Hairolla is 45 years old and lives with his wife and three kids in Bayan-ulgii province, Mongolia. His wife babysits her seven-month-old baby and his elder two kids are school students. He started his business in 2004 by trading raw materials (wool, cashmere, etc). He has many regular customers and guaranteed suppliers. He is well known for his fair trading and excellent service. He always looks for new business opportunities. Therefore, this year, he planned to buy livestock from herders and resell it when the price rises during winter time. He is a sharp and hardworking man who is requesting 2,000,000 MNT to buy livestock.
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.