Jeksanbai is 42 years old and lives with his children and wife in a ger, a Mongolian yurt, in the Hovd province of Mongolia. His wife is currently unemployed. Two of his children are college students and the other four are in high school. He started his business in 2000 by transporting goods with his truck. He runs this business alone and his business income is the sole financial resource for the family. Most of the time, he transports goods per orders from companies and individuals but he also purchases flour and rice and sells them in his hometown. During the winter months, he sells coal. He goes on transportation trips from one to two times a month. During the summer season, he transports between the Bayan-Olgii province and the Hovd province. He is a diligent and hard working man who says "This year, the road to the city of Ulaanbaatar is very good. I want to buy some goods from the city and sell them here." He is requesting a 1,500,000 MNT loan to purchase spare parts to fix his truck, store some gasoline, and use for the trade.
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.