Ganhuyag is 27 years old and lives with his wife and son in a ger—a Mongolian yurt— in Hovd province of Mongolia. His wife has worked as an accountant at the local eldercare house for two years.
He started to fix cars and trucks at Khaan Auto Body Shop in 2005 and has worked there ever since. He has many years of business and practical experience and is a diligent and hard-working man. He says "I want to have my own auto body shop. Since my wife is working and my son is attending kindergarten, I am ready to start my business. I will work hard."
He is requesting a 2,000,000 MNT loan to purchase spare parts and equipment for the 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.