Adiyajav is 30 years old. He lives with his wife and daughter in a house in Dornod province, Mongolia. His daughter is three years old and goes to kindergarten. Adiyajav manages a transportation service business in his town. He started his business three years ago after working with his father for several years. Adiyajav transports coal, wood, luggage, and goods from local markets to his customers’ homes. He is a safe and reliable driver who provides a quick and cheap service for his customers.
Adiyajav is a hardworking and polite man who possesses good managerial skills. He is requesting a 1,300,000 MNT loan to purchase auto parts. In the future, he is planning to purchase a much bigger 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.