Amanjol is 29 years old and lives with his sisters, mother, wife and daughter in a house in the Bayan-Ulgii province of Mongolia. His sisters are college students. His wife works at the local photo studio. He started a business in 2004 selling meat with his sister. In 2007 he started to work at the car body shop that belongs to his brother. His monthly salary was 150,000 Mongolian Tugriks (MNT). In April 2011 he opened a tire repair center and his business is doing well. In the future he plans to expand his business and open a car repair center. He is a hardworking and diligent man who says "I want to build a big house for my family." He is requesting a 2,000,000 MNT loan to purchase additional equipment for his business and increase his turnover capital.
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.