Batbaatar operates an auto repair service in his town and is a professional mechanic. He has been operating his business since 2000, and has steadily expanded his business over the past 10 years. His services include soldering, painting, scratch removal and other auto repair services. He operates his service in the yard beside his ger. After years of success, he has used his earnings to help his wife start a meat selling business. Batbaabar's dream is to one day to open a large auto repair center. He is a very skilled mechanic and hardworking person. He feels that it is most important to try and provide the highest quality service to his customers. He is requesting a 2,400,000 MNT loan to purchase spare parts and other necessary materials for his 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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