Mr. Tuvshinjargal is 24 years old, and he lives with his newly wedded wife in their small house in Uvurhangai province, Mongolia. His wife is a teacher at local school.
Tuvshinjargal started his phone-repair service business in a rental booth of a local market in 2008. He expanded his services and now also sells new and old phones to local residents. He is well-known among the clients for his reliable and good service.
He is now requesting loan of MNT 3,500,000 to purchase spare parts of mobile phones from Erlian, China, and increase his sales.
He built his own house in 2012 from his business profit and improved his living condition. He is a hard-working, diligent, and friendly 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.