Odsuren is a 40-year-old man who lives with his wife and 2 children in Uvurhangai province in Central Mongolia. His wife operates a sewing business and his children study at the secondary school.
Odsuren has some experience running a tire service business. Based on his experience, he is planning to restart this type of business and needs some assistance. Odsuren is a hardworking and gentle man who says, "I would like to develop the business by purchasing some tire service repair equipment. I am trying hard to feed my family." The total amount he is requesting to buy the necessary equipment for his tire repair center is 1,500,000 MNT.
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.