Amartuvshin T. is a 22 years old young man who lives in his own ger, a traditional Mongolian housing tent, in his uncle's yard, in Uvurhangai province, Mongolia. Amartuvshin operates a taxi service between two sub provinces. He began driving in 2007 by helping his brother's transportation business and since 2008, he started to run a taxi service independently after purchasing his own car. With his earnings plus his parents' money, he was able to purchase a new Honda Accent which is better than his previous car, in January, 2010. Amartuvshin is a very modest, optimistic man. He is planning on purchasing a new micro bus and expand his business. He is requesting a 1,500,000 MNT loan to repair his car and change his engine.
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.