Batsuren, 53, is married and lives with his wife and son in the Songinohairhan district of Ulaanbaatar, the capital of Mongolia. They live in a house on land they own on the outskirts of the city. His wife and son, 26, are both unemployed. Batsuren began his transportation service business in 1992. He owns a truck which he uses to transport shipments from one place to another. He has been transporting shipments from Ulaanbaatar to Umnogobi, the southernmost province of Mongolia, since 1992. He makes one shipment per month. For one shipment he is paid 2,500,000 MNT from which he spends 1,200,000 MNT on gasoline, 200,000 MNT on spare parts and maintenance, and 110,000 MNT on food. His net monthly income is about 1,000,000 MNT.
In addition to his transportation business, he operates a brick-making business in his backyard. Batsuren is an honest and responsible person who is planning to expand his business, especially the brick-making. He is requesting a loan of 2,500,000 MNT to buy necessary spare parts and to cover the maintenance costs for his truck. He also plans to use the money to buy sand to make more bricks.
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.