Ganhuyag is 41-year-old widower who lives with his only son in a house in Ulaanbaatar, capital city of Mongolia. Ganhuyag was married in 2008 and has a boy who is 2 years old now. Unfortunately, his wife died a few years ago because of the deep sickness.
After his wife's death Ganhuyag began operating a construction materials trading business in order to feed his boy. He started this business in 2010. Previously, he had worked as an accountant for several years. Therefore his accounting skills helped him to expand and develop his business operation. Now he has many regular customers and is planning to continue his business in the future. He is an honest man who says, "I always seek for new opportunities in my business." He is requesting a 3,500,000 MNT loan to purchase more inventory 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.