Batsaihan is 44 years old and lives with his wife in a ger, a Mongolian nomadic tent, in Hovd province, Mongolia. He has a transportation business, which he started in 1996. Now he transports people and also collects firewood, which his wife then sells. Now that winter is approaching, the demand for firewood is high, and he needs to meet the demand in order to run his business successfully. Batsaihan is a sharp and hardworking man who says, "I always look for an opportunity for business, and I will do everything I can in order to support my family." He is requesting a loan of 1,000,000 Mongolian tugriks (MNT) to buy firewood.
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.