Altanhonh B. is 21 years old, married, and has two children, both of whom attend school. They live in Hentii province of Mongolia. Her husband makes wood products and in 2007 Altanhonh began to do maintenance work such as painting walls and making home repairs. Her husband helps her with the business. Their main source of income comes from their jobs. They make wooden furniture such as tables, chairs, and doors. They have become popular in their area due to the quality of their work. They have many customers and receive constant orders. Recently they received work to do maintenance for two houses as well as making 10 chairs and a wardrobe cabinet. Altanhonh is a hardworking, honest, and modest person who says, "My husband likes to finish any job in a short time with high quality. Therefore, our family business is going well. We are trying to expand our business and enlarge our workshop." Altanhonh is requesting a loan of 3,000,000 MNT to purchase wooden material for their business as well as enlarging their workshop.
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.