Jargalsaihan is 47 years old and lives with his wife and three kids in Ger. They live in a Mongolian yurt in Uvurhangai, a province of Mongolia. His wife helps her out with his job, his elder two kids live individually, and the younger one goes to school. He started his furniture making business in 2008. He makes his products by hand. Due to the severe cold winter, he lost his all livestock. He is a hard working and diligent man who says, "Now that all of my livestock is gone, I will concentrate on my furniture business." He is requesting 1,000,000 MNT to purchase more wood.
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.