Tsedevsuren, 31, lives with his wife and 4-year-old daughter in Uvurhangai province, Mongolia. He and his family live together in a ger (the Mongolian nomadic tent). Tsedevsuren operates a wooden products manufacturing business. He participated in a carpentry training course in 2002 in Ulaanbaatar, the capital city of Mongolia. He has since started his own wooden products manufacturing business. Between 2003-2005, Tsedevsuren and his brother worked together to manufacture wooden products.
After Tsedevsuren's wife graduated college, they moved together to Uvurhangai province. Tsedevsuren worked as a gas distributer at an Umbar gas station between 2005 and 2009. In 2009, he went into business for himself again, and reopened his wooden product manufacturing business at a rented workplace in a business development center in Uvurhangai province. In 2010, he built his own workplace on his own plot of land and started making wooden products, furniture, and ger parts. He is an experienced and skillful wooden products manufacturer, and a hardworking person. Tsedevsuren operates grocery store in from his yard as well. Tsedevsuren says, “It feels great to enjoy the results of hard work. I am working to operate different businesses.”
He is requesting a 2,290,000 MNT loan to purchase timber and other necessary materials 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.