Batsaihan D. is 29 years old and lives with wife and two children in Huvsgul province of Mongolia. They live together in a ger (a traditional Mongolian nomadic tent). He has a gold and silver crafts business which he inherited from his ancestors. He has much skill as a craftsman and designs and produces a variety of jewelry and accessories. Batsaihan has been in his business for more than 15 years. During this time, he has worked hard to grow his crafts business. He has been saving his earnings to begin renting a stall at the local market in the near future. He is a very modest, kind and open-minded person. He is requesting a 2,000,000 MNT loan to use for his craft business.
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.