Batjargal is 33 years old and lives with his wife and two sons in a ger (Mongolian yurt) in Bayanhongor province, Mongolia. His wife helps with his business, and his two sons are school students. He started his car parts retail business in 2001 by renting a container in a market. He started his business by selling oil. Now he sells a wide variety of car parts; however, he is lacking Korean car parts, which are the most in-demand car parts. He is requesting 3,000,000 MNT to buy Korean car parts. He is a sharp and hardworking man who says. "Now that Korean cars are increasing, parts demand is high. If I don't sell Korean parts, I might lose my business."
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.