Ochirjantsan used to work as a carpenter for a small wood production factory until 1998, when he began operating his own carpentry business. He currently operates his business at home and is building a workshop which he wants to finish by the summer. He is a hardworking person who says, "First of all, I want to finish my workshop building and save money to build a house in the future." He is requesting a loan of 800,000 MNT to purchase more wood and materials for his woodcraft business.
About XacBankThis 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.
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