Gonchig is 32 years old and lives with his wife and son in a ger (Mongolian yurt) in Zavhan Province, Mongolia. His wife is a school teacher and his son is a kindergarten student.
He started his raw materials (wool, cashmere) trading business in 2006. He travels to rural areas to collect his raw materials. He has many trusted suppliers.
Now that winter is approaching, he needs support to collect his raw materials. He is a sharp and hardworking man who says, "Now is the peak season for my business. It is the only season I make most of my money".
He is requesting 3,000,000 MNT to buy raw materials.
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.