Batsaihan started his transportation business between Arhangai and Ulaanbaatar, a capital city of Mongolia, in 1998 after purchasing a Russian jeep. He started his business with 450,000 MNT of working capital which has since grown to 6,000,000 MNT. After many years of successful operation, he was able to replace his vehicle with a much larger larger truck for 8,500,000 MNT.
Batsaihan, a very friendly man who has gained much experience both as a driver and businessman, is requesting a 2,300,000 MNT loan to enhance his transportation 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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