Battogtoh and his wife operate two businesses in their town. In 2001 they started a raw material trading business that sells a variety of materials including sheepskin, wool, and cashmere. In 2005 they purchased 20 hectares of land to plant wheat, a seasonal business not operating in the winter.
Battogtoh is a great businessman and father. He says, “Me and my wife are working hard to purchase a house for my oldest son and to create a bright future for all of my children.” He is now requesting a 2,500,000 tugrug (~ 1830 USD) loan to purchase a large amount of wheat seed for his agriculture business and more wool and cashmere for his raw material trading business.
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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