Bainga is 34 years old and lives with his wife and two children in a ger—a Mongolian yurt— in Ulaanbaatar, Mongolia. His wife is a kindergarten teacher's assistant and his two kids are elementary school students.
He was a bus driver from 2002-2010. Seven months ago he bought a van for his own business. Unfortunately, his new van is having some mechanical issues. He is a strong and diligent man who says: "I am very experienced in my field and have a very bright vision of my business." He is requesting a 1,000,000 MNT loan to buy parts to repair his vehicle and get tires.
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.