Dashdemberel, 31, is married and lives with his wife and two sons in a house in Zavhan province, Mongolia. His wife is unemployed. His older son goes to a local secondary school and the younger one attends kindergarten. He manages a public transportation service business between provinces and towns.
He started his business in 1994. However, he is planning to operate a taxi service business in the future. He is a hard-working man who says, "I want to conduct a taxi service business instead of my current public transportation service. The reason is that public transportation service business is very difficult to operate during wintertime." He is requesting a 2,200,000 MNT loan to purchase a car for his taxi service 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.