Tseveen is 26 years old and lives with his wife and daughter in a ger, a Mongolian yurt, in the Uvs province of Mongolia. He manages a shoe-making business with the help of his wife in his town. They started their business in 2006 after working as shoemakers in a private company for several years. Now they make a variety of Mongolian traditional shoes for all ages. They sell their products both in Ulaanbaatar, the capital city of Mongolia, and countryside areas. Their products are well-known amongst their customers for quality and durability.
His wife is going to conduct a taxi service business after graduating her driving school, so they can earn more compared with before. He is a hardworking man who says, "One can achieve success if he works hard."
He is requesting a 2,000,000 Mongolian tugriks loan to purchase a new car for his wife.
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.