Battsengel is 46 years old and lives with his wife and two children in a ger, a Mongolian yurt, in the Bayanhongor province of Mongolia. His wife runs his commodity business and his two children go to school.
He started his dairy in 1999 and since 2007 started to sell clothes. Also, he runs a taxi business using his own car, which he upgraded recently. Now he wants to settle down by running a more convenient business.
He is a hardworking and diligent man who says, "I have been going to rural areas to do my business for a while now. It is time for me to settle down." He is planning to construct a building for his commodity shop. He is requesting 3,500,000 MNT to build a clothes shop and to buy more clothes.
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.