Suhbaatar, 31, is married and lives with his wife and 2 children in the Arhangai province, in central Mongolia. His son goes to a local elementary school, and the daughter hasn't yet reached school age. His wife is a photographer, but she helps her husband's business. They have been residing at their permanent place for 4 years. Suhbaatar has been operating his family-based vegetable trading business since 2006. His starting capital was 300,000 MNT and his working capital is about 3,000,000 MNT today. He always pays attention on his business and buys the vegetables to replace the varieties that he runs out of. His family members support and make contributions to his business as much as they can. The members of this family are all in good physical condition and able to run the business further. As a result of their business and endless effort, they were able to buy a car. Suhbaatar, who is a hardworking and sociable vegetable trader, says that his current business is the source of their family income and wants to expand it in order to provide his children with a good education. Suhbaatar is requesting a 2,800,000 MNT to buy more vegetables to expand 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.