Gantulga S. is 39 years old and lives with his wife and two children in the Arkhangai province in central Mongolia. He and his family live in a traditional Mongolian housing tent called "ger." His son and daughter, ages 14 and 9, both attend a local secondary school.
Gantulga operates a transportation service in his town. He transports small loads such as luggage or supplies for individuals and local businesses throughout the area. Gantulga started his business in 2008 with capital of 5,000,000 tugrugs after previously operating a window making-business. Since starting his transportation service, he has improved and expanded his business greatly. Today, his working capital exceeds 10,000,000 tugrugs.
Gantulga is an energetic person and has many goals for himself and for his business. He says, "With my future earnings, I plan to buy two more trucks for my business."
He is requesting a 2,000,000 tugrug loan to make improvements to 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.