Shirnen is a 51-year-old widower who lives with his four children in Bayanhongor province, Mongolia. He and his family live in a ger, the Mongolian nomadic tent. Shirnen operates an office supply, photocopy, and computer service business with his oldest son, Anhbaatar, 24 years old. They have been operating this business since 2009. Before that, Shirnen had a taxi service. Originally, he planted and sold vegetables with his wife and whole family until 2007 when his wife unfortunately passed away. Like any responsible father, Shirnen has been working hard to provide a better life for his children. He says, “My family is so important for me and I will work hard to create a bright future for my children.” He is requesting a 1,000,000 tugrug (~ 730 USD) loan to purchase more inventory 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.