Aldabergen D. is 30 years old and lives with his wife and two children in the Bayan-Ulgiy province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His two children, aged 5 and 3, both attend a local kindergarten. His wife is currently working for the elementary school as a teacher.
He operates a taxi service in his town. He started driving a taxi in 1998 and has built a stable operation. With his good moral character, he has increased his customer base. He usually transports people between neighboring sub-provinces. His earnings have enabled him to build a new house for his family.
For the future, Aldabergen hopes to expand his business. He is a very pleasant and hardworking person and says, "I am saving money for my children's future education."
He is requesting a 500,000 MNT loan in order to buy three tons of coal, which costs 180,000 MNT, and one truckload of grass in preparation for the winter.
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.