Dorjsuren is 33 years old and lives with his wife and two kids in a 'ger' (Mongolian yurt) in Tuv province, Mongolia. His wife is employed and his kids are school and kindergarden students. He started his transportation business in 2010 using his own pick-up truck. He transports goods to rural areas and he also collects firewood and coal and sells it. The firewood and coal business is going well. However, his truck broke down and needs some maintenance.
He's requesting 2,000,000 MNT to meet the coal and firewood demand and to repair his car. He is a sharp and diligent man who says, "Since my business is the main income in the family, it has been horrible with the broken pick-up truck."
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.