Hoh, age 47, works as a technician in a private company called Koshelik LLC. He earns 200,000 to 250,000 tugrugs monthly. He also used to trade products at a market called Yoshagash in Russia. Currently, his wife operates a clothing trading business at a local market called Tirlik. She has been operating her business since 1990, and has gained much experience over the years as a trader. Her daily revenue is between 40,000 and 60,000 tugrugs. Hoh supports his wife's business as well as his own work.
Hoh and his wife have four children. The family lives in an apartment in Bayn-Ulgii province, Mongolia. Their two oldest daughters, ages 20 and 23, are university students in Turkey, and the two youngest children attend a local secondary school. The family has been living together in their current home for 22 years. With their combined earnings, they have been managing to pay their two daughters' university fees.
Hoh is a very hardworking person and his family is the most important thing to him. He says, “I am working hard to pay my two daughters' university fees in order to provide a good education for them.” Hoh is requesting a 2,500,000 tugrug loan in order to purchase more clothing from Ereen and Taikeshken, two Chinese border towns, to sell at his wife's 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.