Dorjrenchin, 28, is married and lives with his wife and two daughters in Ulaanbaatar, the capital of Mongolia.They live in a ger, a Mongolian nomadic housing tent, in another person's backyard. They currently have a below average standard of living.
Dorjrenchin began delivering petrol in 2009. He was renting his sister's truck to deliver petrol, but purchased it from her last year. He buys large amounts of petrol at a wholesale price and sells it for a higher price. His business is new to the local market and his customers are happy to get this service as it makes their job easier. His business is becoming more stable.
Dorjrenchin is a hardworking, polite and caring person who says, " I work hard in order to take care of my children and wife and support their needs". He is requesting a loan of 3,700,000 MNT to purchase more petrol to keep in reserve and sell in the future.
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.