Dayanbaatar is 31 years old and lives with his wife and daughter in a ger, Mongolian yurt, in his parent's yard in Arhangai province of Mongolia. His wife stays at home with her infant. He started his taxi service business in 2009 with his own car. Also, he runs a car service workshop. He is a certified repairman who is very talented in his business. The car service is more profitable. Therefore, he decided to run the car service full time. He is having trouble running the business due to the garage's heating problem. Now that winter is approaching, he needs to build a new heating system. He is requesting 1,000,000 MNT to build a heating system.
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.