Nyampurev is 41 years old and lives with his wife and two kids in the Hovd province of Western Mongolia. His wife is a teacher and his three kids study at the local secondary school. Nyampurev has been running a woodworking business since 2005 and he is currently selling his products at his local market. He bought a Bongo car with his profits. Nyampurev is a creative and clever man who says, "I would like to expand my business activities by getting the new types of supplies in large quantities based on my research and experience."
Nyampurev is requesting a 2,000,000 MNT loan to buy timber and other materials to begin to make wooden furniture.
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.