Mr.Tomordavaa is 38 and lives with his wife and son in a Ger, a traditional nomadic tent, in Uvs province, Mongolia. His wife is a local school teacher and his son goes to a local kindergarten.
Tomordavaa has been providing taxi service and transportation service business in town for last 5 years. He is a good and careful driver with a good reputation among residents. He is now planning to replace the winter tires for his truck. He is now requesting loan of 1,000,000MNT to purchase 4 winter tires for his truck to secure safety.
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.