Terbish is 50 years old and lives with his wife and two daughters in Govi-Altai province, Mongolia. He and his family live together in a ger, the Mongolian nomadic tent. Terbish's two daughters, Narantsetseg and Davaadorj, ages 21 and 19 respectively, are university students. During the day, Terbish operates consumer goods and clothing trading and iron products manufacturing businesses in his town. He sells his products at a local market and his business is well known. Terbish has been operating the consumer goods and clothing trading business since 1998, and has been operating his transportation business with his own truck since 1995. During the winter, Terbish transports coal, and during that time his wife sells their products at a local market. Terbish's whole family supports his business, and the general family atmosphere is very good. Furthermore, Terbish is a talented person who manufactures iron household goods and sells them to his customers from his shipping container at a local market. His business and family are very important to him and he and his family work hard for a better quality of life. But the most important thing for him is being able to provide a good education for his children. He is requesting a 2,500,000-tugrug loan to purchase more inventory for his consumer and clothing trading business and to purchase necessary materials to manufacture iron products to sell to his many customers.
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.