Uuganbayr is 26 years old and lives with his wife and infant child in a ger, a Mongolian yurt in the Hovd province of Mongolia.
He manages a taxi service business in his town. He started his business in 2010 with his truck. He used to operate a car wash service before. At that time he learned to conduct a business operation and gained much experience.
He is planning to have an auto part selling business soon. His wife will take charge of that business. He is a polite man who is planning to expand his business. He is requesting a 2,500,000 MNT loan to purchase auto parts for his new 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.