Bayarsaihan, 42, is married and lives with his wife and two children in Suhbaatar province of Mongolia. His wife is a kindergarden teacher and his older son attends college while younger son goes to a local secondary school. They live in a ger, a Mongolian nomadic housing tent, on a small plot of land that they own.
Bayarsaihan started a transportation service business in 1992 with a Russian truck. Now he transports coal between local towns in the winter time. In the summer time he transports different shipments depending on the availability. Bayarsaihan is a hardworking and honest person who says, " I am planning to build a house on the land that I own by next year".
He is requesting a loan of 2,500,000 MNT since he is going to buy a new car.
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.