Batbold is 24 years old and lives with his mother in a ger, a Mongolian yurt, in the Hovd province of Mongolia.
He works as a security guard at the local legal office. Since his work has three shifts, he plans to drive a taxi during his free time and weekends to increase his income level. For this reason, he is planning to purchase a car although he has no taxi-driving experience.
He is an open-minded and diligent man who says, "I want to have a good life. During the weekends, I prefer to drive a taxi and earn money rather than staying at home."
He is requesting a 2,000,000 MNT loan to purchase a car.
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.