Ganzorig is 45 years old and lives with his wife and three children in the Arhangai province of Mongolia in his own house and fence. His youngest two children attend a local secondary school while the oldest son and wife help with his business.
Ganzorig started a raw materials trading business in 2003 and ran it for several years. In 2009 he changed his trading business into a carpentry business, which has more demand and brings more profit. He produces ger wooden parts, such as wooden doors, floors, and walls and delivers them to his customers with his own truck. (A "ger" is a traditional Mongolian house tent.)
Ganzorig is an honest and hardworking businessman. He is requesting a 3,500,000 MNT loan to purchase more materials for his carpentry business.
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.