Batsumberel, 45, is married and lives with his wife and two daughters in the Chingeltei district of Ulaanbaatar, the capital of Mongolia. His older daughter graduated from college and now works for a company as an office manager. His younger daughter currently attends University. His son got married and has started his own life. Batsumberel worked for a small company as a manager and his wife used to operate a hair salon in a building they own, located near their house. Now they use the same building as a grocery store that they opened in 2010. His wife is responsible for sales and he makes purchases from other stores. Batsumberel is a hardworking and business minded person who says, " Our house is located by a busy road and it is an advantage for us to operate our food shop. If we can keep our shop full of a variety of goods, we have the possibility to increase our working capital". He is requesting a loan of 3,200,000 MNT to purchase more food and groceries for his grocery store.
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.