Erdenebat is 44 years old and lives with his wife and three children in a ger, Mongolian traditional nomadic housing tent in Zavhan province, Mongolia. His older two daughters attend local secondary school while the youngest son is in kindergarten. He manages a taxi service business in his town. In addition to his business his wife manages a movie renting business too. His wife is planning to continue and expand her business in the future. Erdenebat is a polite and hardworking man who says, "We are both very thankful to Xacbank for supporting our business and lending us necessary amount of money." He is requesting a 2,500,000 MNT of loan to purchase players, DVDs and CDs in order to support his wife's 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.