Soltanmurat is 50 years old and lives with his wife and three kids in Bayan-ulgii province, Mongolia. His wife is an unemployed woman who stays at home, and his three kids are all college and high school students. He started his transportation business in 1997 with his own van. At first, he was transporting people only within the province. Now he takes people to Russia, and also buys groceries from Russia and sells them.
Soltanmurat is requesting 2,600,000 MNT to buy spare parts to repair his van. With winter approaching, he needs to perform these repairs and save some supplies. He is a strong and diligent man who says "I will do everything I can in order to educate my kids".
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.