Jamiyansuren is 27 years old and lives with his wife and two children in a 'ger' (Mongolian yurt) in Bayanhongor province, Mongolia. His wife is an economist and right now she cares for her children at home. He worked in a television studio before. His major is in engineering, therefore, he started his cell phone selling and repair business in 2010.
Jamiyansuren is a strong and hard-working man who wants to expand his business by buying new equipment in order to fix more complicated cell phones. He is requesting a 1,200,000 MNT loan in order to purchase cellphone parts and cellphones.
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.