Tsendsuren is 43 years old and lives with his wife and two children in Khovd Province, Mongolia. He and his family live in a traditional Mongolian nomadic housing tent called a "ger". His daughter and son currently attend a local secondary school. Tsendsuren operates a clothing trading business at a local trading center in his town with the help of his wife. Besides his business he works as a doctor in a police department in his province. Tsendsuren started his business in 2003. It has quickly grown over the last years and he has built a strong customer base. With his business earnings he was able to buy a car and a shipping container where he sells his clothing. Tsendsuren hope to build on his experience in the future and says, "I want to expand my business and have my own shop." He is requesting a 4,000,000 tugrug loan to purchase clothes for his 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.