Toleujan is 34 years old and lives with his children and wife in a house in the Bayan-Ulgii province of Mongolia. His children are high school students. He started his business in 1995 by transporting goods and products. Now he transports coal from the Hotgor coal mine. With his business profits, he purchased a small car his family. During the summer time, when coal transportation is slow, he becomes a taxi driver.
He is a diligent and hard-working man who says, "I want to build a prosperous life for my children and family." He is requesting a 2,500,000 Mongolian tugriks (MNT) loan to purchase spare parts for his truck and increase his turnover capital.
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.