Otgonpurev is 43 years old and lives with his wife and twin sons in their small house in Uvurhangai province, Mongolia. His wife, Anhtuya, is 38 and runs a small clothes retail on a rental counter of the local market. She started her business in 1999 and has gained a lot of experience and regular clients over the years. Otgonpurev's sons are 18 and graduating from local high school this fall.
Otgonpurev drives a mini-bus and provides public transportation services in the area. He has just started producing building blocks in their plot of land during summer. He is planning on expanding the production and growing the business.
He is now requesting a loan of 1,500,000 MNT to purchase clothing inventories for his wife's business. He is a hardworking and diligent man who is really concerned about his sons' further education.
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.