Urtnasan is 47 years old and lives with his wife and three children in a house in Sansar area of Ulaanbaatar, the capital city of Mongolia. His wife is a salesperson and his younger two sons go to a secondary school. His older daughter, age 22, gave birth and stays home. He manages a transportation service business in Ulaanbaatar city. He started his business in 2005 with his truck. In addition he works as a welder in order to supplement to his earnings. He makes doors, windows, and window protectors for his customers. Now his business has been stabilized which allowed him to fix his truck.
He is a hardworking man who attributes his business success to his good managerial skills. He says, "While working as a welder I have gained much profit. Therefore I am planning to build a workshop in order to expand my business." He is requesting a 1,800,000 MNT loan to purchase construction materials to build his workshop.
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.