Beisenbek E. is 43 years old and lives with his wife and four children in the Bayan-Ulgiy province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic housing tent. His oldest two children attend a local secondary school while his two younger children are in kindergarten.
His wife is currently unemployed. Beisenbek operates a goods transportation business in his town. He started his business in 2003 by transporting coal and firewood between sub-provinces. He transports coal and firewood using his own truck with trailer and sells it in local markets. His truck can transport a load of up to 15 tons, which allows him to make 6-8 trips during the winter season and 8-10 trips in the summer. His business earnings are the only source of his family's income.
He is a very modest and quiet person. For the future, Beisenbek hopes to continue making progress with his business and says, "All I want is to build a house for my family." He is requesting a 1,000,000 MNT loan to purchase wheels for his truck and to grow his working capital.
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.