Saruul-Erdene D. is 47 years old and lives with his wife and four children, aged between 3 and 19, in Hentiy province, eastern of Mongolia. He and his family live together in a house. His eldest son is disabled, the middle two children attend a local middle school, and the youngest daughter goes to a local kindergarten.
Saruul-Erdene and his wife work together repairing tires and cars next to their house. The couple owns a car repair service which they began in 2007 and their work is very popular because their work is fast and of high quality. This couple works hard to provide for their children and improve the quality of their lives with education. Saruul-Erdene is a hard-working and creative, modest person that says, " I have been working as a driver for ages and now am glad to repair cars and make the other drivers happy ".
He is requesting a 1,500,000 Mongolian tugrug (MNT) loan in order to purchase rubber, tools, equipment and new tires for his car repair 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.