Batbaatar is 34 years old and lives with his wife and two children, ages 7 and 15, in a ger, a Mongolian traditional nomadic housing tent, in Zavhan province of Mongolia. His two children both attend local secondary school while his wife helps with the family shoe-making business.
Batbaatar started his business in 2004 at his home. Batbaatar is responsible for making the traditional handicraft footwear items, including shoes, boots, sandals etc.. On the other hand his wife, Bayasgalan, is responsible for selling their shoes at a rented stall at a trading center. They have managed to build a strong customer base and their customers are satisfied with the quality and uniqueness. Batbaatar and his wife are planning to expand and continue their business in the future.
He is a hardworking man who says, "I want to buy a sophisticated sewing machine in order to increase our product sales." He is requesting a 3,000,000 MNT loan to purchase a sewing machine from China and some materials 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.