Jargal, 38, is married and lives with his mother and wife in Bayanhongor province, Mongolia. They live in a 'ger', a Mongolian nomadic housing tent, on a small plot of land that they own. He worked for a jewelery-making company between 1993 and 1995. He began operating his own goldsmith business in 1995. By operating his business he was able to buy the land and build his house.
He bought a car in 2009 with the profit from his business. Then he began purchasing gold and silver items which he uses for his smith business from individuals. His wife is helping him with the purchase these days because he got injured because of an accident last summer. Now he operates his business at home.
Jargal is a hardworking person who says, "I and my wife are working hard in order to buy an apartment where we can have a comfortable life in the future." He is requesting a loan of 3,000,000 MNT to purchase more gold and silver items 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.