Ganbold, age 44, is a furniture maker. He started his nomadic furniture making business in 2004. He manufactures high-quality furniture items with embellishments and quality painting work. However, his equipment is getting old and at present is unable to operate.
Ganbold is requesting 650,000 MNT to buy timber.
Ganbold lives with his wife and three children in a "ger" (a Mongolian yurt) in Uvurhangai province, Mongolia. His wife is employed as a janitor and their three children are all school students.
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.