Battulga owns and operates his own wooden-products business, specializing in 'ger' parts, 'ger' furniture, and other larger furniture pieces. He started his business in 2002 after graduating from a carpenter training course. Most of his profits come from the sale of his larger-sized furniture which is sold at prices between 850,000 and 1,200,000 tugrug (~600-840 USD). All of his products are made with great care and attention to detail which has earned him a reputation among his customers as a quality furniture provider.
He would like to increase his sales so that he can afford to build a house by the end of next year. Battulga is requesting a 2,000,000 tugrug (~1400 USD) loan to purchase more wood so that he can increase the number and variety of large furniture pieces that he can sell.
About XacBankThis 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.
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