Ahjol is 41 years old and lives with his wife and 3 children in a ger, a Mongolian yurt, in the Bayan-Ulgii province of Mongolia. His wife is unemployed, his eldest son is a college student, and his younger two children are secondary school students.
Ahjol started his taxi business in 2006. He drives an old Russian sedan which is 31 years old and no one wants to sit in that car nowadays. Therefore, he wants to buy another car for his business. He is a hardworking and diligent man who says "I ran my business for a long time and I love it. Unfortunately, my car is getting old." He is requesting 2,000,000 MNT to buy a new car.
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.