Batdorj D. is 42 years old and lives with his wife and two children in Uvurhangai province in central Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. Both his young son and daughter, aged 7 and 8, attend a local secondary school. His wife is currently unemployed and helps out in her husband's business.
Batdorj operates a used clothing and shoes trading business out of a stall at the local market in his town. He started his business in 2007 and, in this short time, has made a lot of progress in growing his business. His wife works in his stall as a salesperson.
Batdorj used to rent a small stall but, since then, his business has expanded and he rents larger stall. He has many years of business experience and he is a hardworking person who hopes to continue to grow his business.
Batdorj is requesting a 2,300,000 MNT loan to increase his inventory by purchasing more used clothes and shoes from Ulaanbaatar, the capital of Mongolia.
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.