Umitker is 47 years old and lives with his wife and seven kids in a ger (a Mongolian yurt) in the Bayan-ulgii province, Mongolia. His wife stays at home and babysits her children: two elder ones are college students and are 20 and 17 years old; three middle ones are school students and are 12, 10 and 14 years old; and two younger one go to kindergarten and are 4 and 2 years old. He started his business as a handyman in 1990. Now he makes roofs, fences, doors and windows. His average monthly income is 1,600,000 Mongolian tugriks (MNT). Recently, he received mass amount of orders for doors and windows. He is a sharp and hardworking man who says, "I will do everything I can in order to educate my kids." He is requesting 3,000,000 MNT to buy more wood materials for doors and windows.
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.