Mr. Baldansuren is 52 years old and lives with his wife and daughter in Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife is retired and stays home taking care of him and his daughter. His daughter Otgonbileg, age 17 is a university student. Baldansuren has been running a business as a public transportation service provider since 2006. He is a very experienced driver. His income from the public transportation business is the only source of his family income. He spends his income to cover his daughter's tuition and other school related expenses and other family expenses too. His car needs some repairs to keep his business alive. So he is requesting 2,000,000 MNT to purchase spare parts and fix his minivan to run his business normally. He is an optimistic and hardworking man.
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.