With his spouse, Gereltuya, Altansuh has been running a shoe sales business since 2001. He goes to Ereen, a Chinese border city, twice every month and to Beijing once a quarter, to purchase girls' shoes at wholesale prices. His spouse, Gereltuya, sells the shoes at her shoe stall, which is located at the Narantuul, the biggest outdoor market in Ulaanbaatar. The market runs year round despite the extreme winter temperatures.
During the last three years, he has been building a house for himself and for his family. He is planning to complete the house in the coming autumn and move in. Altansuh hopes to have his own indoor stall to prevent his wife from getting sick from working outside during the freezing winter. With this loan, he will buy more shoes for his business and construction material to complete the house where his family will live.
About XacBankThis 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.
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