Tuvshinbaatar is 51 years old and lives with his wife and three children in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. His wife is unemployed. Two sons are college students and they sometimes help with their father's business.
He started his joinery business in 2001. Now he makes a lot of wood products and furniture to order. Personally, he is laconic and a strenuous worker who says, "I need to broaden my business and get more income to educate my children well."
He needs a 3,800,000 Mongolian tugrik (MNT) loan for buying wood planks and a lathe 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.