Sumya is 34 years old and lives with his wife in Mongolia. His wife is a local secondary school teacher and they have been married for ten years.
He provides transport services for a living. He owns a sedan and pick-up truck to meet his customers needs. Recently, Sumya sold his cars to buy a newer sedan.
He is a hard working and diligent man who says, "It is hard to maintain two old cars at the same time." He is requesting a 2,500,000 MNT loan 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.