Erdenebaatar is 43 years old. He lives with his wife and 3 children in a ger, a traditional nomadic yurt (a portable felt dwelling), in Hovd province of Mongolia. His wife Nyambayar is currently unemployed and takes care of her family. His oldest child is a university student and his two younger children attend the local secondary school. Erdenebaatar has been driving trucks since 1990. He fixes his own truck and helps other drivers when their vehicles need repair. He has a lot of experience and started his own business of auto repair service at home. He is well-known because of his kindness and his skill at providing auto repair services in town. He is now requesting a loan of 1,000,000 MNT to purchase tools and equipment for his auto repair business. He is a hardworking, helpful and kind person who dreams of building a big auto repair business with all the necessary equipment and tools to provide services to his clients.
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.