Batbaatar is 31 years old and lives with his wife and daughter in Arhangai province in central Mongolia. He and his family live in a ger, a traditional Mongolian nomadic housing tent.
Batbaatar operates a vegetable trading business in his town. He provides a large selection of vegetables to his customers. He started his grocery business in 2006 with a working capital amount of 350,000 MNT and has since built a stable operation with many permanent and loyal customers. After several years of successful business activity, his working capital exceeds 1,300,000 MNT. For the future, he hopes for continued success and to expand his business.
He is requesting a 600,000 MNT loan to purchase more vegetables for his grocery 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.