Turbadrah, 30, lives with his wife and two children in Western Mongolia. His wife makes construction decorations from March to December and their two children are in secondary school. He started providing intercity transportation in 2008 and sometimes he drives his van for the taxi service in the cities. Now, he plans to get his own motor coach so that he could earn more and expand the business. Turbadrah is a bright guy who says, "I would like to expand my business to make a higher income and improve my family's livelihood. I am planning to spend my savings to buy the motor coach but still need some financial support." The total amount he is requesting is 2,000,000 Mongolian tugriks (MNT) to buy the motor coach.
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.