Batsuren is 38 years old and lives with his wife and son in a ger (Mongolian yurt/ nomadic tent) in Uvurhangai province, Mongolia. His wife is a clerk and his son is a school student. He started his hairdressing business in 2006 by renting a space in the market. Now (in 2011) that his business is stable, he also has started to operate a barber shop. He also rented a counter in the market to sell cell phones which is right next to his hairdressing place. His new business seems to be highly profitable. He is a sharp and hardworking man who says "I can manage two business at once and I don't like to miss an opportunity. This business is already paying off and I want to expand it by selling a broader range of products". He is requesting 2,000,000 MNT to buy phone supplies and cell phones.
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.