Batdorj S. is 39 years old and lives with his wife and two children in Uvurhangai province, central Mongolia. He and his family live in a 'ger', a traditional Mongolian nomadic tent. His two children attend a local middle school while his wife is a homemaker.
Batdorj owns and operates his own wooden product business, specializing in 'ger' parts, 'ger' furniture, and other larger furniture pieces. His business is quite family-oriented as he operates his business with the help of his brother. He started his business in 2005. Most of his profit come from the sales of his larger-sized furniture which are sold at prices between 40000 to 150000 MNT. All of his products are made with great care and attention to detail which has earned him a reputation among his customers as a quality furniture provider.
Batdorj would like to expand his sales so that he can increase his working capital. He is requesting a 3,500,000 MNT loan to purchase more wood so that he can increase the number and variety of large furniture pieces that he can 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.