Maamuu, 54, is married and lives with his wife and daughter in Uvs province, Mongolia. His wife works as a salesperson at the market and his daughter attends college. Maamuu learned carpentry skills in 1986 and worked for a construction company. He began operating his own business in 1992. He works for construction companies in the summertime and makes wooden products and furniture at home in the winter. He supports his family with his business profits. Recently, he has bought a car with his business revenues. In the future, he wants to expand his business and have a workshop. He is a hardworking and honest person who says, "I want to increase my profits and help my daughter to start her own life". He is requesting a loan of 500,000 MNT to purchase more wood and materials 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.