Choijiodser is a 23-year-old man who lives with his wife, Nansalmaa, who helps him to run their family business in the Uvs province of Mongolia. His daughter Namuun is 2 and stays at home.
Choijiodser has been quite a craftsman since he was in high school and he officially started his wooden furniture and Ger parts manufacturing business at home in 2012. He has hired two other striving craftsman and now he is running his business successfully. Choijiodser needs additional inventory to meet recent orders and he is requesting loan of 4,000,000 MNT to purchase more inventory and other necessary materials to fulfill his clients' orders on time. He is a hardworking, diligent, and confident 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.