Mungunhuu B. is 21 years old and lives with his parents and siblings in their own house in Hovd province, western Mongolia.
Mungunhuu operates a transport service in his town which he began in 2006 after purchasing a small car. He has found success with his business and has gained much experience as a driver over the years.
In 2009, Mungunhuu provided transport services to tourists and earned 3,000,000 MNT so now, with the earnings, he wants to purchase a bigger car for his business. He is requesting a 3,500,000 MNT loan to purchase a newer and bigger car for his transportation business.
Mungunhuu is an honest and hardworking person who is known by his customers for his good character. For the future he hopes to continue to provide a quality and efficient transportation service.
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.