Mr. Suraubai is 45-years-old and lives with his wife and 3 children in their house in Bayan-Ulgii province, Mongolia. His wife is a nurse at the local hospital and his children are local primary and secondary school students.
Suraubai has been providing a year-round livestock retail business in a local outdoor market; he purchases livestock from herders and sells it to local residents. His high season is winter but working conditions are tough. He has been providing good and friendly service to the local residents for years now and is well-known among them.
He is requesting this loan of 2,000,000 MNT to purchase a large number of livestock from herders in the countryside. He is a hardworking, friendly and helpful 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.