Altansuh is 30 years old and lives with his wife and two children in a house in Sansar are of Ulaanbaatar, capital city of Mongolia. His mother-in-law babysits his two children, aged 1 and 4 years old.
Altansuh manages a clothing trading business with the help of his wife at a rented stall at a Narantuul, one of the busiest markets in Ulaanbaatar city. They started their business in 2006 and have gained much experience. They attribute their business success to a good location of their stall. Altansuh used to help to his mother's business while he was a teenager. At that time, he learned much about business operation and the fundamentals of business management. He is an honest man who is planning to expand his business in the future. He says, "I want to have my own apartment in the future." He is requesting a 2,000,000 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.