Naimanchuluun is 31 years old and lives with his wife and two children in an apartment in the Arahangai Province of Mongolia. His wife Tungalag is 31 years old and is a teacher in a kindergarden. His two sons are six and three years old and they go to kindergarden. He started his taxi service business in 2002. He is well experienced and popular in town. He is asking for 2,000,000 MNT (Mongolian Tughrik) to purchase a spare part for his 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.