Manibadar T. is 38 years old and lives with his wife and two children in Baganuur, one of the remote districts of Ulaanbaatar, which is the capital city of Mongolia. They live together in an apartment.
He operates a transportation business for locals between towns. He owns a large transport truck and transport goods throughout towns and cities. He started his transporting business in 2007 and has found success as a truck driver. In the winter he also purchases and transports coal which he sells to local residents and businesses.
After years of successful operation, he has gained many permanent customers. For the future, he plans to continue to grow and improve his business so that he can enlarge his house and fence. He is requesting a 1,200,000 MNT loan to purchase four new tires and an engine for his truck.
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.