Boldbaatar operates a taxi service using his own car to support his family. His oldest daughter also drives a taxi using her own car. Boldbaatar started his taxi business in 2010 after working for the firefighting team as a driver between 2004 and 2010. He has gained a lot of experience as a driver. Boldbaatar is modest and honest and says, "All I want is to continue to run this business as a stable operation in order to provide my family." Boldbaatar is requesting a 2,000,000 MNT loan to use for his household to repair his house and fence.
About XacBankThis 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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