Sharavnyambuu is 45 years old and lives with his wife and son in a house in Govi-Altai province in Mongolia. His son is a student and his wife helps with the family business.
Sharavnyambuu runs an auto parts trading business at a local market. He started his business with a working capital of 200,000 MNT in 2002. In the winter, he also operates a meat trading business in order to supplement his earnings. Sharavnyambuu is planning to plant trees this coming summer. He now owns 1 hectare of land where he will plant 2500 trees. He is a hardworking man who is planning to buy a car with his earnings.
Sharavnyambuu is requesting a loan of 2,000,000 MNT to purchase seeds 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.