Mr. Javhlan is 33-years-old and lives with his wife and daughter in a small house in the Songinohairhan district of Ulaanbaatar city, Mongolia. His wife Odontungalag is 31-years-old and she helps her husband to run their family business of crafting traditional shoes and slippers. His daughter Amirlan is three years old and has started going to the local kindergarten.
Javhlan and his wife started their business of making traditional boots, summer shoes, slippers in the Ger on their plot of land. They sell their products in some big souvenir shops and bigger markets. He is now borrowing 1,600,000MNT in order to purchase large amounts of inventory for the high season of tourists. The Javhlan's are happy, hardworking and diligent people.
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.