Batbaatar S. lives with his wife and two children in Zavhan province, Mongolia. He and his family live together in a ger, the Mongolian nomadic tent. His oldest daughter, Nandintsetseg, attends a local secondary school and his youngest daughter attends kindergarten.
Batbaatar operates a traditional Mongolian boots manufacturing business. His oldest daughter and wife help with his business. He started his business in 2005, then manufacturing only traditional Mongolian boots. Since 2008, he has expanded his product line and has begun to manufacture fancy Mongolian and Buriad boots for his customers.
Batbaatar sells his products at a local market called Uliastai. He and his family have built a loyal customer base because of their good location and excellent service.
Batbaatar is a very hardworking person who has good communication skills. He says, “In the beginning, I was manufacturing traditional Mongolian boots for family use and selling a few leftover boots to local residents. Since that time, the number of people who would like to buy our boots has increased and my business has expanded. Our service and product quality have improved over the past years.”
Batbaatar is requesting a 1,000,000 tugrug loan to purchase leather and other necessary materials to manufacture traditional Mongolian boots. This is in anticipation of the upcoming spring, when demand for his products is very high. During the spring his customers' buying power increases because they sell large amounts of cashmere and earn a lot of money.
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.