Yesjan is 25 years old and lives with his wife and daughter in Bayan-Ulgii province, Mongolia. His family live together with Yesjan's parents in a ger, the Mongolian nomadic tent. Presently, he operates a manufacturing Kazakh souvenir and instrument business in his town. Yesjan makes Kazakh traditional instruments called dombra, and other souvenirs to sell. He started his business in 2001, when he learned how to manufacture Kazakh traditional instruments and souvenirs from his father. Yesjan has steadily expanded his business, and gained valuable experience in previous years.
Nowadays, his working capital exceeds 300,000 tugrugs. He sells 5-6 dombras per week for 20,000 tugrugs. Furthermore, he has a loyal customer base because of his well-designed and high quality products. Yesjan has been planning to expand his production line and will use a variety of materials, including iron, for his products in the future. He is a very hardworking person who has great communication skills. Yesjan is requesting a 800,000 tugrug loan to purchase a large amount of materials for the upcoming month when demand for dombras is very high.
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.