Bathuu P. is 39-year-old. He lives with his wife and two children in Ulaanbaatar, the capital of Mongolia. His daughter is 15 years old and student in a local secondary school and his son is 6 years old and goes to a local kindergarten.
Bathuu has a degree in mechanical engineering from a local university. With the degree, he worked for a local company as a refrigerator and freezer engineer from 1996 and 2000. However, in 2001, he decided to start his own business and now fixes refrigerators and freezers for those who call and order his services. He has already obtained some contracts from local companies as a refrigerator engineer. He hopes to expand his business and create his own refrigerator repair company.
He is requesting a loan to buy parts and supplies to repair refrigerators and freezers.
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.