Gan-Ochir B., 45, operates a truck-driving business. He lives with his wife and son in a ger (the traditional Mongolian nomadic housing tent) in Hovd province, Mongolia. They have been living together for twenty-two years.
Gan-Ochir has been operating his business since 2000 and has built a loyal customer base. He has gained much experience in his business over the past ten years. To make money, he transports coal from the coal mine, and his wife sells it to individuals and organizations.
Gan-Ochir has been planning to purchase a larger truck in the future. With his business profits he provides for his family expenses. He is an industrious person and has been working hard to provide a better life for his family.
Gan-Ochir is requesting a 3,000,000 MNT loan to purchase coal and fuel to export coal to China.
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.