Ganhuyag D. is 49 years old and lives with his wife and two children in the Hovd province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent and fence. His one child attends a local school while his son helps him with the business. He operates a car repair service out of his fence. Ganhuyag started this business in 1996 and has built a stable operation since then. Over the many years of operation, he has gained a lot of experience as a repairer who is specialized in repairing diesel engines. He is teaching his skills to his son. Ganhuyag is requesting a 700,000 MNT loan to purchase more machinery parts for his car repair service.
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.