Soldat started his own company in 2005, a livestock trading business. Since 2009 he has been operating a lime-burning business with the help of two business partners and is working to build a stable operation.
In order to burn lime, he needs to transport suitable stones from eighty kilometers away and the coal that is needed for burning the lime. The price per kilogram of lime is between 350 and 500 MNT. Soldat's business is particularly busy during March and from July to October. He hopes to make his new business a success, and in the future he plans to have his own lime-burning factory.
Soldat is a hardworking and honest man and says, "All I want is to save enough money for my children's education." That is why he is requesting a 1,200,000 MNT loan to purchase a truck of lime stones at 150,000 MNT and three tons of coals for his lime-burning 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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