Mr. Gantomor is 36 years old and lives with his wife and 2 children in a house in the Selenge province of Mongolia. His wife Ariuntsetseg, aged 34, is currently unemployed and stays home taking care of her family. His son Uuganbayar, aged 9, goes to the local primary school and his daughter Urangoo, aged 3, goes to a local kindergarten. The borrower has been running his tire repair service on their plot of land since 2005. He has built close relationships with his customers and suppliers over the years. He is now requesting 500,000MNT to purchase spare parts for his equipment to run his tire repair business smoothly. He is a hardworking, responsible and diligent 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.