Baterdene is 31 years old and lives alone in Ulaanbaatar City, Mongolia. He started his taxi service business in 2006 with his own car. Since then, he has renewed his car and bought a yard with the profit. Also, he runs a meat retailing business. He is a sharp and hardworking man who says "The cab business is pretty much the same everyday so I rented a counter at the market and hired somebody to run the business. It is going surprisingly well so I need to increase my supply in order to run my new business successfully". He is requesting a 3,000,000 MNT loan to purchase more meat.
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.