Batsuuri S. is 61 years old and lives with his wife and two daughters in Arhangai province, Mongolia. He and his family live together in a ger (the Mongolian nomadic tent). His youngest daughter, Oyun-Erdene, is a university student. Batsuuri operates a water trading business in his town. He buys water and resells it, delivering with his horse cart to the local cafes, organizations and individuals.
Batsuuri started his business in 2005 with a working capital of 10,000 MNT. With a lot of hard work and determination, his working capital today is 1,000,000 MNT. Over the past five years, he has built a loyal customer base. Since he started his business, he has been providing money for his family expenses and paying his child's university tuition fees.
Batsuuri has a good personality and has very good communication skills. He says, “My dream is one day to create my own well in order to provide my service to more customers.” He is requesting a 2,500,000 MNT loan to purchase a car for his business, which will be used to transport water to sell.
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.