Batdelger, 32, is married and lives with his wife and two children in a rented basement of an apartment in Ulaanbaatar, capital city of Mongolia. His older son, aged 8, goes to a secondary school. His younger child hasn't reached school age.
Batdelger manages a wool products making and trading business, with the help of his wife. She used to work at one of the wool manufacturer's for several years. Batdelger used to operate a clothes trading business at a local market.
Three years ago, based on his trading skills and on his wife's clothes making skills, they began to operate a wool products manufacturing business. They rent a small basement where they live and work. Through successful business operations they have managed to buy three sewing machines. They are very hardworking people, trying hard to improve their life. They say that they want to have their own house in the future. He is requesting a 1,100,000 MNT loan to purchase more equipment 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.