Gantumur is 46 years old and lives with his children and wife in a house in Uvurhangai province of Mongolia. His wife sews clothes and plants vegetables. His daughters are college and high school students.
Gantumur has been working as a truck driver at the grain field since 1999. He also provides a land-removal service to people and organizations. His wife makes deels -- traditional Mongolian coats -- at home and is well recognized in the local area. His family plants several types of vegetables and sells them. Gantumur is a hard-working and open-minded man who says "I want to expand my business and have new equipment." He is requesting a 1,500,000 MNT loan to buy spare parts for his tractor.
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.