Uuriintsolmon is 27 years old, and lives with his wife and son in Hovd province of western Mongolia. His wife is an accountant for the private company but she is on maternity leave, taking care of the sons. He started a car washing business and a taxi business in 2009. With the profits, he constructed a building and sine 2010, he started running a food market. Since his sales have grown recently, he would like to increase the variety of products at the market. He is a diligent guy who says that "I want to extend my business by trading different kinds of products to meet the family needs". The total amount he is requesting is 3,000,000 MNT for the supplies.
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.