Suhee is a 51-year-old man who lives with his wife and two children in Uvs province in Western Mongolia. His oldest daughter is a college student. His wife makes traditional clothes at home and he delivers them to the customers, takes them to the neighbor provinces and trades them. They are both experienced in the field and have many regular customers and organizations. He also has a shop counter at the local biggest trade center. Suhee is a diligent man who says that, "I would like to expand the business activity by purchasing the necessary materials for the traditional clothes so that the volume will be increased. I am planning to save for my children' future and improve the household". The total amount he is requesting is 2,500,000 MNT to buy clothing 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.