Baljinyam is 31 years old and lives with his wife and two children in a "ger", a Mongolian yurt, in Hovd province of Mongolia. His older son is an elementary school pupil while the younger one is in kindergarten. He manages a food cafe and pool game with the help of his wife in his town. He started his business in 2009. He is also planning to operate a taxi service at night. He is a diligent man who is planning to expand his business. He is requesting a 1,800,000 MNT loan to purchase a car in order to start 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.