Baatar is a 34-year-old man who lives with his wife and three children in the Suhbaatar province of Mongolia. They live in a ger, the Mongolian traditional housing tent, in someone's backyard. His two older children attend the local secondary school, while his wife stays home taking care of their infant.
He manages a meat trading business between Baruun-Urt sum and Ulaanbaatar city. He started his business in 2009, partnering with his brother. In 2010, he began conducting his business by himself, and is planning to expand his business in the future. He is an experienced businessman who says, "I want to buy a plot of land in order to build a house for my family."
Baatar is requesting a 2,500,000 MNT loan to purchase more sheep and goats in order to increase his business sales.
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.