Mrs.Sarantuya is 51 years old and lives with her husband and two sons, in a ger (round, felt tent) in Dornogobi province, Mongolia. Her husband, Tsolmonbaatar, age 42, runs a taxi service in town. Her sons, Tsolmonbayar, age 15, and Erdene-Ochir, age 13, study at a local school. Borrower has been working at a local transportation service company since August, 2012.
Her husband's car has been broken for a while now, and he needs some spare parts to fix his car and run his business without problems. Borrower is requesting 400,000 MNT, to purchase spare parts for her husband's car, so he can resume and run his taxi service business smoothly. Both borrower and her husband are hard-working and responsible people.
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.