Mr. Javhaa is 44 years old and lives with his wife in a small house in the Nalaih district of Ulaanbaatar, Mongolia. His wife Nyam, age 50, is retired and helps her husband to run his cobbler business in the spare room of their house. Javhaa’s three children all are married and live separately from them.
Javhaa used to be a herder; then moved to the city and started his cobbler business in their spare room. He has built a close relationship with his customers and suppliers. He is now requesting 2,500,000 MNT to purchase a sewing machine and inventory to run his business smoothly and without sudden pause.
Javhaa is a hardworking, diligent and honest man.
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.