Batbayar is 50 years old and lives with his wife and two children in Gobi-Altai province, Mongolia. He and his family live together in a ger, a Mongolian nomadic tent home, in a small yard that they rent. His daughter is 18 years old and attends university and his wife works as an attendant in a local trading center.
Batbayar currently operates a billiards center in his town. He has been operating his business since 2005, after gaining experience working at his brother-in-law's billiards center. He started his own business with 10 billiard tables and now has 14 tables.
Batbayar has been making plans to expand his business and to improve his workplace in the near future. Batbayar is a very hardworking man and his family and his business are very important to him. He says, "I am now saving money for my oldest son's wedding in August."
He is requesting a 1,500,000 tugrug loan to purchase necessary equipment for his billiards center and to improve his workplace in order to attract more customers.
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.