Battogtoh is a 31-year-old who lives with his two brothers in a house which he built in his own hands in the Hentii province of Mongolia. Battogtoh operates a taxi service business. He has been doing this service since 2005. He started his business by driving a Hyundai Excel and now that business has expanded, he is driving a Hyundai Accent.
Due to his many years of service, he has many regular customers. By doing the business, he feeds his family members. He is a diligent man who says, "I love what I do; it feels good to serve others and soon I will be buying a new car." He is requesting a 700,000 MNT loan to buy a motor for his car and to repair his house.
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.