Jeksanbai T. is 42 years old and lives with his wife and four children in the Hovd province of western Mongolia. He and his family have been living together at their current address since 2006. Jeksanbai's wife is currently unemployed, and three of his children are students. Jeksanbai operates a transport business in his local area using his own large Russian transport truck. He transports various heavy loads for people and local businesses between Hovd and the neighboring Bayan-ulgiy province. When business is slow, Jeksanbai sometimes purchases flour from wholesalers to transport and sell for himself, and during the cold winter months transports and sells coal.
Jeksanbai works hard to save his earnings. His main goal is to provide all of his children a quality education. He is requesting a 1,500,000 MNT loan to purchase fuel and make repairs to his transport truck.
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.