Erdenesuh is 42 years old and lives with his wife and two kids in an apartment in Suhbaatar province in Mongolia. His 9-year-old daughter is a student in elementary school and his 5-year-old son stays at home with his mother.
Erdenesuh started his transportation business in 2000 using his own truck. Now he has a contract with the mining company and he is very well experienced in his business. He is a hardworking and diligent man who says, "Now that the mining industry is booming in Mongolia, my business is going very well and I have a very bright future for my business." He is requesting 3,000,000 MNT to buy new engine to replace his old truck engine.
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.