Mr. Suhbaatar is 62 years old and lives with his wife in a ger in the Dornogovi province of Mongolia. His wife Batdulam is retired and stays home tailoring traditional costumes for local clients. His four children are married and live elsewhere. Suhbaatar is a repeat borrower of XacBank and has good previous loan records. He has been driving taxi for years has lot of experience. He is now requesting 1,200,000 MNT to purchase spare parts and replace them in order to continue his business without delay. He is a hardworking, diligent, and kind 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.