Delgerdalai is 29 years old and lives with his wife and son in a ger (Mongolian yurt) in the Uvurhangai province of Mongolia. His wife is pregnant and his son, age 5, is in kindergarten. He manages a raw material trading business between the center of the province and the Chinese border. He sells a variety of metals such as copper, iron, zinc etc. He started his business in 2003 and has been able to stabilize it. He also operates a transportation business in his town. He needs to work hard in order to sustain his business, because it is the only source of income for his family. With his earnings he managed to buy a van to use in his business operation. He is a polite man who attributes his business success to his good accounting skills. He is requesting a 2,700,000 MNT loan to purchase more inventory 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.