Dorjsuren is 54 years old and lives with his wife and two kids in a ger (Mongolian yurt) in Arhangai province, Mongolia. His wife and elder child are employed, and his younger one is a college student. He started his gold and silversmithing business in 1995. Over the years, he gained many regular customers and he is well known by his skill. The business activity is stable and he has been improving the household income little by little. Dorjsuren is a humble man who says that "I would like to have my own workplace for the business. I am planning to expand the activities and services". The total amount he is requesting is 2,000,000 MNT to buy more raw materials 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.