Estai has been providing taxi service business in town since 2011. He used to work at local companies as an assistant worker and driver. He purchased a second-hand car and started his own taxi service business.
His car has been broken down several times recently and needs some spare parts in order to continue his taxi service with no sudden stops. He is now requesting a loan of MNT 2,000,000 to purchase spare parts, install them in his car, and continue his business and support his family.
He is a hard-working, enthusiastic, and reliable man.
More information about this loan
This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.
About XacBankThis 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.
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This loan has been fully funded!