Tumurbagana L. lives with his wife and five children in Uvurhangai province of Mongolia. He and his family have lived in their house for past 10 years. His oldest son is a police officer in the local police department and his two middle daughters, Myagmartogtoh and Tserennadmis work as a teller in the bank and manager in the Ulaanbaatar cashmare company respectively. His younger daughter attends university and his youngest son is in kindergarten.
Tumurbagana used to work as a driver in the transportation section between 1986 and 1993. He started his car repair center business in 2002 in his home after operating a taxi service using his own car based on his many years of experience as a driver. He provides all kind of car repair services to his customers and has established a good business in his local community. Because of his many years of experience, he is known in his town for quality repairs. For the future, he plans to continue grow his business in order to provide his family and buy fuel efficient car for himself.
He is requesting a 1,500,000 MNT loan to purchase more car repair supplies and tools from Ulaanbaatar, the capital city of Mongoia.
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.