Batmunh is 41 years old and lives with his wife and daughter in a ger, Mongolian yurt, in the Gobi-Altai province of Mongolia. His daughter, aged 9, attends the local secondary school.
He manages a clothes and household goods trading business, with the help of his wife, from a container at a local market. He started his business in 2000. At first he used to rent a stall. He switched to a container in 2005. His business was quite successful which allowed him to buy a truck. He is a hardworking man who is planning to expand his business. He says, "I want to have better living conditions for my family. Therefore, I am doing my best to make my business flourish." He is requesting a 2,000,000 MNT loan to purchase more stock to sell this coming spring.
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.