Zul-huu is 26 years old and lives with his wife in Bayanhongor province, Mongolia. He and his wife live together in a ger, the Mongolian nomadic tent. Currently, his wife stays at home.
In 2003 Zul-huu graduated as a lathe solderer from a college in Ulaanbaatar. From 2005 to 2007 he worked as a solderer at a private company in his own province. From 2007 to 2009 he worked as a solderer and drum master at a goldmine. Since 2009 he has been operating his own soldering business from his yard. He is planning to create his own workplace in his yard.
Zul-huu is a decent and very hardworking person. He says, “I would like to create my own workplace and to concentrate more on my soldering business”. He is requesting a 415,000 tugrug loan to purchase appliances and materials 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.