Munhsuren is a man who lives with his wife and two children in the second largest city in Mongolia. He first learned to make blocks in 2008. Later, he started making them alone at home with his new equipment. He has been supplying the blocks to the local jails and other organizations. He is an experienced trader in his field. Many people from different areas come to him to buy his high quality blocks. Munhsuren is a hardworking and good man who says, "I would like to expand the business activity by purchasing the cement, gravel and sand in large quantities. I have a further plan to make my business bigger than this with the high volume". The total amount he is requesting is 1,200,000 MNT to buy the necessary raw materials such as cement, gravel, sand for the block producing 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.