Ganhuu S. is 25 years old and lives with his wife and one-year-old son in Ulaanbaatar, Mongolia’s capital city. He and his family live together in a ger, a traditional Mongolian nomadic tent, which is owned by his mother. His mother owns several livestock and operates a milk trading business in the city.
Since 2008, Ganhuu has been operating a taxi service, after working in the government's security agency as a supervisor. In addition, he sell goods out of his sister's market stall to supplement his earnings. After years of operation, he was able to renovate his car. Ganhuu is a clever and open minded man. He is requesting a 800,000 MNT loan to make repairs to his car and will give the remainder of the loan to his sister in order to increase the working capital of his part in his sister's consumer goods trading business.
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.