Ganbaatar T. is 39 years old and lives with his wife and two children in Han-Uul district of Ulaanbaatar, a capital city of Mongolia. He and his family live in a house and fence. His two children attend a local school. Ganbaatar operates a clothing trade business. He sells a variety of clothing items and has gained a lot of experience in his trade. He has proven himself to be trustworthy to customers who paid off all his previous loan on time in full. He is requesting a 3,000,000 MNT loan to import a large amount of clothes from China in order to sell for upcoming Mongolian New Year holiday.
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.