Mr. Jantsansambuu is 31 years old and lives with his wife and 2 children in a Ger, a traditional nomadic tent, in Uvs province of Mongolia. His wife, Soninhuu, is unemployed and stays home taking care of the family. His daughter, Purevsuren, is 7 years old and is a local primary school student; his son, Barsuren, is 5 years old and attends a local kindergarten.
Jantsansambuu has been working in his wooden furniture and Ger manufacturing business since 2004 and has a lot of experience in the business. He has just gotten orders from a smaller administrative area within the province for 10 Gers and needs 2,000,000 MNT to purchase wood and other inventory to meet the order and increase his sales. He is a hardworking and diligent 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.