Mr.Ulambayar is 43 years old, and he lives with his wife and two sons in a Ger (Mongolian yurt) in Harhorin soum of Uvurhangai province, Mongolia. He and his wife Uranchimeg have been selling souvenirs in beautiful tourist hot spots during tourist seasons. During winter, Uranchimeg provides tailoring services to local residents.
Their son Ulsbold has just enrolled in the university and lives in the capital city, and their son Suhbold attends a local school.
Ulambayar has been providing souvenir retail with his wife. During the winter he also provides a taxi service business in town. Because the tourist season has not yet finished, he is requesting a loan of 1,000,000 Mongolian Tughriks (MNT) to purchase handmade souvenir products from local producers and sell to international and domestic tourists. Ulambayar and his wife are hardworking, positive and welcoming people.
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.