Azzaya G. is 30 years old and lives with his wife and two children in the Huvsgul province of Mongolia. He and his family all live together in their ger /Mongolian nomadic housing tent/ and fence. Both his two sons attend secondary school and his wife operates a meat trading business after running a small cafe in the local market. Azzaya owns his own car and is a taxi driver in his town. He began his business in 2007 and has gained a lot of business experience in a short amount of time. He needs to keep his car in good condition so that he can continue to earn a living. Therefore, Azzaya is requesting a 3,000,000 MNT loan in order to upgrade his car that is used as a taxi.
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.