Jadambaa is 50 years old and lives with his wife and child in Bayanhongor province, Mongolia. He and his family live together in a ger, the Mongolian nomadic tent. His wife, Davaamyagmar, is an interior decorator. Jadambaa's child is a welder, and operates a taxi service as well.
Jadambaa is a bulldozer driver in his town. He has been running a bulldozer service since 1995, and is an experienced driver. In 2000, he purchased a bulldozer and other complex agricultural equipment for his business. During the winter, he operates a welding and auto repair service from his home. He has been planning to start his own small farm in two years. Jadambaa is a very hardworking person and has many plans for the future. He says, “My dream is one day to create my own small farm in the countryside. First of all, I am doing research on operating a farm.”
He is requesting a 2,500,000 MNT loan to repair his bulldozer.
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.