Mr. Amanbek is 29 years old and married. He lives with his wife and two daughters in their house in the Bayan-Ulgii province of Mongolia. His wife Baljan is 28 years old. She stays at home to take care of their children. His older daughter is 3 years old and his younger daughter is 1 year old now. Last year, he built a new house by himself using his savings and he started a taxi transport business in 2012. However, he does not think that his earnings will be enough to cover his family's living expenses in the future, so he plans to open a food store business right next to their new house with the loan. That way, his wife would be able to work at the food store while she looks after the children. He is very diligent and hardworking.
He is requesting 3,000,000 MNT to purchase foods and supplies for his food store.
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.