Dunchinsuren, 49, is married and lives with his wife and three children in Ulaanbaatar, the capital of Mongolia. They live in a ger, the Mongolian nomadic housing tent, on a small plot of land that they own on the outskirts of the city. They have a decent standard of living due to the transportation service business he started in 2000. He transports people from one side of the city to the other. Now his business has become more stable and his daily net income is around $64.
He is an open-minded and hardworking person who says, "I am trying to make more money and build a house where we can have a comfortable life." He is requesting a loan of 1,800,000 MNT to buy spare parts and pay maintenance fees for his microbus.
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.