Temtsel is 25 years old and lives with his wife and child in the Arhangai province in Mongolia. He and his family live in a ger, a traditional Mongolian nomadic tent. Temtsel operates a animal rawhides trading business in his town. He purchases products from local herders and uses his own car to transport and sell raw materials to local suppliers for a profit. Temtsel started his business in 2009, with the working capital of 500,000 MNT. Within a short period of time, he has established a stable business in his local community and increased his capital to 1,200,000 MNT.
In 2008, Temtsel purchased a car to transport his products. He is a modest and hardworking man who is requesting a 500,000 MNT loan to purchase animal rawhides and increase his sales.
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.