Gundsambuu, 30, is married and lives with his wife and son in the Arhangai province of Mongolia. They live in a ger, a Mongolian nomadic housing tent, in someone's backyard. He began operating a car repair service in 2007. He sells spare parts in his workshop and his working capital is 2,100,000 MNT. Now his business has become more stable and he has one employee. He offers good quality service and has been able to attract many customers. He is a hardworking and modest person. He mainly focuses on the quality of his service. He wants to expand his business in the future. He is requesting a loan of 2,000,000 MNT to purchase spare parts for his business.
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.