Amartaivan is 41 years old and lives with his wife and a son in a small house in Selenge province, Mongolia. His wife, Altanshagai, is currently staying home taking care of their 1 year old son, Amarjargal.
Amartaivan started his taxi service business in town in 2005. He has been improving his services by replacing his car each year from his business profit. He is well-known with his good and safe service in the province center. He needs to increase his income since they have new baby boy and family expenses have increased. He is a hardworking and thoughtful person who now needs 1,000,000 MNT to replace some spare parts to continue providing his taxi service business without interruption.
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.