Ganzorig, 28, is married and lives with his wife and two children in Tuv province of Mongolia. They live in a house that they own. His wife is not employed and takes care of their one year old daughter. The older son attends a local secondary school.
Ganzorig has been operating a coal business in the winter and a vegetable business in the summer since 2006. Now he owns a mini-truck, but wants to buy a new, bigger truck. Their house is located near a busy road where he hopes to open a tire repair service on his property in the near future.
Ganzorig is a modest and hard working man. He is requesting a loan of 2,000,000 MNT to buy spare parts for his mini-truck and expand his 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.