Oyundelger is a 46-year-old man who lives with his wife and 2 children in Dornogovi province in Southern Mongolia. His children study at the college. He runs a welding business and it has been 14 years since he started the business. He does welding of home stuffs and truck trailers. He has many regular clients not only from the local areas but neighbouring villages. He has his own workplace inside his fence. Oyundelger is a talented man in the field and says, "I would like to develop the business activities by purchasing some new and necessary materials for the business like saws, saw blades, cutter and irons". The total amount he is requesting is 1,000,000 MNT to buy necessary materials such as a thick and thin irons, saws and sawtooth for the business.
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.