Amarsanaa, 40, is married and lives with his wife and three children in the Bayanhongor province of Mongolia. They have lived in a house on some land that they own for the past fourteen years. His older son attends college, while the younger two children attend the local secondary school.
He operates a car repair business and a taxi service. He operates the taxi business with his own car that he bought in 2006 with the money he made from his car repair business. His wife operates a retail trading business of consumer goods which she started in 2001. She operates a rented kiosk at a local market and her working capital is 2,000,000 MNT. Amarsanaa and his wife both work hard to support their family through their business incomes.
Amarsanaa is a hardworking and active person who drives taxi, repairs cars and helps his wife with her business. He is requesting a loan of 3,000,000 MNT to buy spare parts for his car and cover the maintenance fees.
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.