Batzaya B. is 27 years old and lives with his wife and son in the Hovd province of western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. He has been operating a transportation business, using his own big truck, since 2010. He began his business in 2010 after working as a driver in the military army. After many years of owning this business, he has gained much experience. For the future, he is planning to improve his truck. Batzaya is requesting a 2,000,000 MNT loan to purchase more coal to 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.