Batbayar is 36 years old and lives with his wife and three kids in a ger, a Mongolian yurt, in the Baganuur district of Ulaanbaatar, Mongolia. His wife helps him with his business, his older 2 kids are in school and the youngest one goes to kindergarten.
Batbayar started his raw materials business selling things such as bottles, pots, and plastics in 2005. He goes to rural areas to collect the raw materials. Due to the high transport cost, he needs to buy a pick-up truck.
Batbayar is a hardworking and diligent man who says "I know exactly how to run my business and I do everything I can to support my family." He is requesting a loan for 2,500,000 MNT to buy a pick-up truck.
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.