Demberel, 56, is married and lives with his wife and two sons in Uvurhangai province, Mongolia. They live in a ger, the Mongolian traditional nomadic housing tent, in someone's back yard. His wife is a guard at a private company, while his two sons are employed as assistant construction workers.
Demberel manages a grocery trading booth near to his home. He started his business in 2008. Since then he has been able to stabilize his business and he attributes his business success to the good location of his booth. Now his monthly sales have reached to about $420. He sells a variety of grocery items, including vegetables, flour, candies and drinks. He is an open-minded and polite man who says, "One needs to work hard instead of doing nothing all day."
He is requesting a 2,000,000 MNT loan to purchase more grocery items in order to 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.