Ulziisaihan is 34 and lives with his wife and three children in a ger (Mongolian yurt) in Bayanhongor province, Mongolia. His wife runs a small garment retail business. His elder two children are school students, and his younger one goes to kindergarten. He started his taxi service in 2010 with his own car. His business was fine, and the income was enough for him to support his family until his car's engine broke. He wants to replace it with a new one and replace a few additional parts, as well. He is a hardworking and diligent man who says, "It has been horrible since my car broke down. My family is having crises. I have to make it right." He is requesting 1,200,000 MNT to purchase winter coat and to rent one more stall to expand his wife's 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.