Batchuluun, 45, is married with three children. He and his family live in Ulaanbaatar, the capital of Mongolia. His daughter goes to college and his youngest son attends a local secondary school. His oldest son used to live with them but is now married and has begun his own life.
Batchuluun's family currently lives in a ger, a Mongolian nomadic housing tent, in someone's backyard. He is a leather production specialist and began his boot-making and trading business in 1996. He makes boots at home and sells them at Narantuul, the biggest outdoor market in Ulaanbaatar. His wife and children help him to operate the business. They make up to five pairs of boots a day which sell for 20,000 MNT in the warmer seasons and 25,000-30,000 MNT in the wintertime. His monthly profit is 250,000-300,000 MNT.
Because he is an expert in boot making and has been doing this business for several years he has not tried any other business. Batchuluun ia a hard-working man who wants to increase his production and expand his business. He is requesting a loan of 2,000,000 MNT to purchase more leather and rubber materials, which are essential for making boots.
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.