Batzorig is 24 years old and lives with his wife and daughter in Hentii province in Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His wife stays at home taking care of their infant daughter while Batzorig supports his entire family by operating a welding service in his town. He started his business in 2007 and has since built a stable operation with many permanent customers. Over the many years, he has gained a lot of experience as a welder who is very popular among his customers. With his business earnings, which are the only source of his family income, he has improved his family's standard of living. Batzorig is a hardworking and honest person. He is requesting an 830,000 MNT loan to purchase a new welding machine for his 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.