Bolathan has operated a transportation service in his town since 1991, delivering various products including stone, pebble and sand during the summer season; in the winter he usually transports coal, selling it in a local market. Bolathan owns two vehicles, a small car and a big truck, using his car as a taxi during the evening.
Bolathan, a very modest and polite person, says, "The transportation business is a difficult one to operate, especially during winter months." He is now requesting a 3,500,000 MNT loan both to purchase four new wheels for the trailer he uses to haul materials and to use as working capital.
About XacBankThis 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.
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