Gantulga is 47 years old and lives with his son in Ulaanbaatar, the capital of Mongolia. They moved there in 2001 from Suhbaatar province. His son is currently studying at college.
Gantulga began transporting goods with his truck between Ulaanbaatar and the eastern provinces of Mongolia in 2001. In addition to that he brings sand that is used for construction and sells it at a local market that specializes in construction material. A full truck of sand sells at between 100,000-110,000 MNT.
He is a hardworking and polite person who says, "I would like to buy a new car for my son." He is requesting a loan of 2,000,000 MNT to buy spare parts and tires for his truck.
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.