Sahtagan has operated a transportation service using his truck since 2000, and his earnings from this successful enterprise enabled him to purchase a big new Russian truck called the Zil-130 with a truck trailer in 2009. He hopes to continue making progress with his business and says, " My truck trailer is old, so I need to purchase a new one." Sahtagan is now requesting a 3,000,000 MNT (2249 USD) loan to increase his working capital before coal prices become high in anticipation of winter.
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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