Suhtulga is 37 years old, married, and has five children, three of whom attend school. They live in a ger, a traditional nomadic tent house, in Uvs, Mongolia. His wife takes care of their new twin boys. Suhtulga operates a wood furniture manufacturing business from home, which he has been doing for four years. He also provides transportation services with a small van to increase his income.
Suhtulga is requesting a loan for 3,000,000 MNT, which he will use to purchase wood for his furniture manufacturing business to meet his clients' order on time.
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.