Batbileg is 36 years old and lives with his 11-year-old daughter in Uvurhangai province of Mongolia. His daughter attends a local primary school. They have been living in a ger, a Mongolian nomadic housing tent, in his sister's backyard for the past 8 years.
In 2005, Batbileg began a transportation business. He currently operates a clothing trading business. He started his business with his own working capital and has received two loans from our bank. Batbileg is a hardworking, motivated person and a caring father who says, " I want to expand my business and increase my profit to make my daughter an educated person in the future." He is requesting a loan of 1,500,000 MNT to buy more goods 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.