Soronzonbold has been in the trucking business since 1998. He owns an old Russian truck that he uses for carrying freight between his city and Ulaanbaatar, the capital city of Mongolia. His family is very supportive of his business and helps whenever he needs some help.
Soronzonbold says that he works hard to make sure that his daughter receives good education without any financial strain. Further, he dreams of exchanging his old truck for a new, powerful one.
About XacBankThis 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.
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Success!! The loan was 100% repaid