Gantumur N. is 44 years old and lives with his wife and daughters in Huvsgul province of Mongolia. He and his family live together in a 'ger', a traditional Mongolian nomadic tent. His older daughter, Setgelmaa, is a student while his younger daughter, Bolormaa, attends a local secondary school.
Gantumur, with the help of his wife, operates a car repair business in a rented workplace in his town. He began his business in 1998 and since then, they have built up a successful business operation. Over many years of operation, he has gained a lot of experience. His earnings have enabled him to pay his daughter's tuition fees and also provide for his family.
For the future, he hopes to have his own workplace. Gantumur is a very hard-working and modest man and is requesting an 800,000 MNT loan in order to purchase some repair parts and tools for his business.
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.