Nasantogtoh is 24 years old and lives with his wife and daughter in Bayanhongor province, Mongolia. He and his family live together in a traditional Mongolian nomadic housing tent. He operates a retail business and purchases a variety of products from Ereen, a Chinese border city, and resells them for a profit. Nasantogtoh has been operating this business since 2004.
Furthermore, he has also been operating a transportation business since 2007. Previously, he operated a second hand product trading business between 2002-2004. Over the years, Nasantogtoh has expanded his business and gained valuable experience. He has been planning to expand his business and to open a store in the future. Nasantogtoh is a very hardworking person and says, “I would like to open my own store for my business with the business profits.” He is requesting a 3,000,000 tugrug loan to increase his working capital 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.