Tumenbileg is 51 years old and lives with his wife and twins in an apartment in Ulaanbaatar, capital city of Mongolia. His one son is a worker and other one is a student.
His wife is a salesperson who has her own business. He operates a uniform trading business at a rented stall at Narantuul, one of the crowded markets in Ulaanbaatar city. He started his business in 1995 and gained much experience. Now he has 3 stalls where he sells a variety of uniforms for all ages. He is a hardworking man who says, "I want to increase my business sales." He is requesting a 1,000,000 MNT loan to purchase materials to sew uniforms.
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.