Suhbat is a 56-year-old man who lives with his wife and daughter in the suburban area of Ulaanbaatar city, Mongolia. His wife is employed and the daughter studies at the secondary school. He has started a transportation of freight business in which he delivers sacks of coal in wintertime. In summertime, he delivers construction materials. He is experienced in the field and has gained a number of regular customers who have contracts with him. Suhbat is a hardworking and diligent man who says, "I would like to expand my business activities by purchasing the supplies in large quantities". The total amount he is requesting is 2,000,000 MNT to buy more 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.