Jamsran C. is 43 years old and lives with his wife in a "ger," a traditional nomadic housing tent, in the Huvsgul province of Mongolia. His children live separately on their own.
He used to operate a transportation service, using his micro bus from 2000 to 2005. He has been operating a cafe with help of his wife for past five years. Over the years, he has worked hard to build a stable operation and hopes to continue success in his growing business. Jamsran is a modest and very motivated man and says, "All I want is to open my own big restaurant in the future."
He is requesting a 3,000,000 Mongolian tugriks (MNT) loan to enlarge his cafe space.
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.