Tumurbaatar A. is 46 years old and lives with his wife and four children in Tuv province in central Mongolia. He and his family live together in a 'ger', a traditional Mongolian nomadic housing tent. His daughter attends university while the younger two children attend school and his oldest son works in a beverage company as a loader. His wife works in a local food market as a salesperson, and Tumurbaatar operates a 'ger'-bracing supply production business. He produces ropes, belts, and straps used in 'ger' construction.
Tumurbaatar started his business in 2005 and has gained much experience as a maker of these products. Over the many years of owning this business, he has built up a stable and successful operation and has gained many permanent customers and partners. For the future, he is planning to have his own workplace and sell his products both on the local and foreign markets of Kazakhstan.
Tumurbaatar is a modest, honest and hardworking person. He is requesting an 1,200,000 MNT loan to purchase horse manes and tails in order to produce ropes and straps.
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.