Otgonhishig T. is 41 years old and lives with his wife and two children in Hovd province, western Mongolia. His two children attend a local middle school while his wife works as a specialist in a local education center.
Otgonhishig operates a raw materials trading business: animal skins, cashmere and wool trading in his local market. He began the business in early 2010 and continues to trade raw materials to local retailers. Otgonhishig is a modest, creative and hardworking man. He is requesting a 2,000,000 MNT loan to purchase more supplies 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.