Ganzorig is a 48-year-old man who lives with his wife and two children in Darhan city in Northern Mongolia. His oldest daughter studies at the secondary school. He started painting 2008 and sold his works. With the profits from the business, he bought a sewing machine for his wife. His wife started sewing sleeping bags, mats, and hats in different styles. They sell them at a well-positioned shop counter in a the big trade center.
Ganzorig is a talented man who says, "I would like to develop our business activity by buying a new sewing machine for the business to keep it successful." The total amount he is requesting is 400,000 MNT to buy a new sewing machine for his wife.
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.