Badamgarav D. is a 26-year-old, optimistic and hardworking man, who lives with wife and 3-year-old child in Hovd province, Western Mongolia. He graduated from the Agriculture College as a carpenter in 2002. During 2006-2007 he worked in Kazakstan and in 2007-2009 in Ulaanbaatar as a carpenter, where he learnt much and gained much experience.
Now, he operates his own carpentry workshop in his hometown and produces wooden furniture for local customers. His wife runs a clothing business at the local market and helps to provide for the family.
Badamgarav is requesting a 1,800,000 MNT loan to purchase raw materials for his carpentry business and more goods for his wife's clothing business. His future plan is to expand his workspace.
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.