Byambaa Y. is 42 years old and lives with his wife and three children in a house in Zavhan province, Mongolia. His older two daughters attend college while youngest one is in secondary school.
He manages a vegetable planting and trading business with the help of his wife. They started their business in 1990 and have gained much experience. They plant a variety of vegetables including potatoes, cabbage, carrots and garlic during spring time and harvest them in fall.
Byambaa is a polite and hardworking man who says, "We are happy for the loan service of your XacBank. We are one of the reliable and trusted customers of your XacBank."
He is requesting a 3,000,000 MNT loan to purchase garlic seeds and potato seeds 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.