Manas, 26, is married and lives with his wife and a newly born daughter in Hovd province of Mongolia. His wife is currently unemployed and they have a below average standard of living. Manas began growing vegetables in 2006 and running a taxi service in 2008.
They currently live in a ger, Mongolian nomadic housing tent, and he is building a house on a small plot of land that he owns. He learned farming from his father who is an experienced farmer in his area. Manas sells the vegetables that he grows in addition to his taxi service business. He is a hardworking and polite person who says, " I am trying to finish my house which is being built now". He is requesting a loan of 2,950,000 MNT to purchase seeds for his vegetable business and spare parts for his car.
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.