Undrah is 56 years old lives alone in Ger in Bayanhongor province of Mongolia. His children are married and live with their families. Undrah has been providing welding services at home since 1999. He officially made this a business in 2002 and established his reputation as a welding service provider well-known in town for quality service. He is now requesting 400,000 MNT loan to purchase metal materials to produce chimneys and other metal products to sell to his clients. He is a hard-working, enthusiastic 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.