Batsaihan is 33 years old and lives with his wife and one child in his house in Ulaanbaatar city of Mongolia. His wife helps with his business and his child goes to the kindergarten.
Batsaihan operates a shoe-making business. He started his shoe-making business in 1996. At first, he was only able to make one kind of shoes on order and they barely sold. Now, he makes a variety of types of shoes and he sells them to resellers. He is a hard-working and diligent man who says, "I believe that I can do even better and I have a bright vision for my business." He is requesting 2,000,000 MNT to buy materials to make more boots to increase his assets.
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.