Mr. Bayarsaihan is 43 years old, and he lives with his wife and three children in a house in Huvsgul province, Mongolia. His wife Oyunchimeg, age 38, runs a small tailoring service business at home. His daughter Nyambayar, age 18, and son Odbayar, age 17, are university students, and his daughter Oyunbayar, age 10, goes to a local school.
Borrower has been providing a taxi service business since 2004. He is now requesting 1,000,000 MNT to purchase spare parts, in order to run his taxi business smoothly, without sudden interruptions. He is a hard-working, energetic, and honest 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.