Bathuyag is 35 years old and lives with his wife and three kids in a ger, a Mongolian yurt in the Arhangai province of Mongolia. His wife is unemployed. His two older kids are in school and the younger one goes to kindergarten. He started his photography business in 2001 with 100,000 MNT. He has built his assets to 1,000,000 MNT. His business has been profitable since 2001. Because of his old camera, his photography quality is poor. He is a creative and hardworking man who says, "I have a mission to become the province's largest photography studio owner." He is requesting 1,500,000 to buy a new camera and accessories.
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.