Gombojav T., 45, is married and lives with his wife and three daughters in Uvruhangai province of Mongolia. They live in a house on a small plot of land that they own.
His wife is self-employed and her two older daughters attend college while the youngest daughter goes to a secondary school.
Gombojav began his food selling business in 2005. He purchased food stuffs from the city and sold them in the countryside using his own car.
In 2006, he set up a ger, Mongolian nomadic housing tent, in the countryside and operated it as a cafeteria and a shop where he sold food stuffs and consumer goods. Afterwards his business became less profitable so that he has recently begun operating a stall at a local market in the city.
He is a hardworking and polite person who wants to expand his business and increase his working capital. He is requesting a loan of 2,700,000 MNT to purchase more food stuffs and consumer goods for his 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.