Mendjargal is 31 years old and lives with his wife in a ger, a mongolian yurt, in the Bayanhongor province of Mongolia. His wife runs a sewing business at home.
Mendjargal started a taxi business in 2009 using his own car. His daily income is 10,000 - 15,000 MNT. Now that his wife is starting a business, he wants to support her by buying her a sewing machine and raw materials. His wife is a certified tailor and very talented. There are no decent tailor shops around the neighborhood.
Mendjargal is a strong and diligent man who says "my wife is very talented on sewing and more importantly she loves it so I will do everything I can in order to support her". He is requesting 1,000,000 MNT to purchase sewing materials and a sewing machine for her wife's 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.