Tuvshinbayar D. is 36 years old and lives with his parents and siblings in the Huvsgul province of western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His family lost all their cattle stock in a snow disaster in 2000 and Tuvshinbayar purchased a car with all his family capital in order to operate a transportation business.
His business is very important to him and his family as the main source of family income. The continued growth of his business enabled him to purchase a plot of land, where the family lives now, and helped him to improve their quality of life.
Tuvshinbayar works hard and is an energetic, modest and easy-going person. He says, “I hope to operate the business stable so that I can continue to provide for my brother's education.”
He is requesting a 1,500,000 Mongolian tugriks loan to purchase car-repairing materials.
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.