Orgodol is 32 years old and lives with his wife and son in a small house in Uvurhangai Province, Mongolia. His wife, Natsagnyam, is 35 years old. His son, Nyamdorj, is 13 years old, and is a secondary school student. Orgodol makes deels, the national clothing, and Mongolian yurt covers with his wife. His monthly business net profit is 350,000 - 550, 000 MNT. In his free time, he operates a taxi service. He is planning to expand his business and improve his profit. He is a hardworking and honest man. He needs 1 750 000 MNT to purchase raw materials for his 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.