Horolsuren is 27 years old and lives with his wife and son, in a ger, a Mongolian yurt, in Uvurhangai province of Mongolia. He is married to Tsetegbadam, who is 25 years old, and stays at home with their son. Horolsuren conducted a water well drilling business in 2006-2008. He gave this business to his mother. Since 2008, he has been running a tire repair service business. He bought a motorcycle with his business profits in 2012. Now he is requesting 3,900,000 MNT to buy tires from Ulaanbaatar for his tire repair business. He is a hardworking and responsible person.
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.