Jursaa is 33 years old and lives with his wife and four children in Uvs province, Mongolia. His son and three daughters, who are between 12 and 18 years old, attend a local secondary school. He and his family live in a ger, a traditional Mongolian nomadic housing tent.
With the help of his wife, Jursaa operates a meat trading business at a local market. He is responsible for purchasing and transporting meat and livestock from countryside residents and his wife is responsible for selling them. They sell a variety of meats to their customers at a stall in the local market. Jursaa started his business in 2000 and his business currently operates at a stable level and he continues to make progress.
Jursaa hopes to grow his business in the future and his continued success is very important as he must support his daughter, who is going to enter university next year. Jursaa is requesting a 900,000 tugrug loan to purchase more meat in order to increase his sales.
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.