Jambaldorj is 40 years old and lives with his wife and two kids in a ger (Mongolian yurt) in Bayanhongor province, Mongolia. His wife works in a petrol station and the two kids are school students. He started his transportation business in 1994 with his own truck. Now, he has renewed his old truck and bought a sedan with the business profits. Now that winter is approaching, he needs to maintain his truck by buying four tires and fixing the engine. He is a sharp and diligent man who says, "I have a vision to buy an even bigger truck and a house of my own." He is requesting 3,000,000 MNT to buy four tires and to maintain the truck for the harsh winter.
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.