Baterdene D. is 47 years old and lives with his wife in Ulaanbaatar, Mongolia’s capital city. He and his wife live in their own house. He is divorced from his previous wife and his children live with their mother. Since 2008, he has been operating a taxi service using his own car, after working in the government agency for several years. He plans to fix his house and improve his family's standard of living.
Baterdene is requesting a 800,000 MNT loan to purchase spare parts for his car and remodel his house.
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.