Janbolat is father of one child and lives with his wife and son in ger (Mongolian yurt) in Bayan-Ulgii province, Mongolia. His wife is unemployed and looks after their son at home.
Janbolat moved to the province center in 2008 and started his business. Now he has own joinery beside his house and makes woodenwares by subscription. He has enough tools. When construction materials' prices become high, the cost of disposal (of timber waste) rises too. He spends too much time when he goes to get orders off people. So he needs car in order to cut time and transport costs. He is hardworking and laconic man. He is requesting 2,000,000 MNT loan in order to buy a 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.