Dosbol D. is 36 years old and lives with his wife and three children in a ger--a traditional nomadic housing tent--in the Bayan-Ulgiy province of western Mongolia. His elder two children attend a local middle school and the youngest son goes to a local kindergarten. His wife takes care of their children.
Dosbol operates a taxi service between the countryside and the capital of the province. He started his business in 1992 and after several years in business, he was able to afford to buy a larger, more reliable automobile. But the van he has purchased was a disadvantageous one that requires too much petrol which has made it hard for him to manage his business successfully and make a profit.
Dosbol is still operating his transportation business but supplements his service earnings by transporting raw materials such as sheepskins, goat skins and wool and coal from the countryside to the province center. He works very hard to provide for his family. He says, “My only wish is to support my children's education and have them become good people.”
Dosbol is requesting a 2,000,000 MNT loan to purchase tires for his automobile and a large amount of coal for his 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.