Orgil A. is 29 years old and lives with his wife and five year old daughter in Hentiy province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent in a relations yard. His wife works as a bond teller in a company. Orgil currently operates a taxi service in his town. He started driving a taxi in 2008 and has found success. He has used his earnings to stabilize his family's financial situation and improve their quality of life. His daily revenue is a between 18,000 and 25,000 MNT (13-19 USD)and daily business expense is around 9,000 MNT (7 USD).
For the future, he hopes to continue his business' stable operation and to purchase new car for his business. He is requesting a 1,300,000 MNT (980 USD)loan to purchase auto-parts and to make repairs to his car.
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.