Batzorig is a 47-year-old man who lives with his wife and two kids in Govisumber province in Southern Mongolia. His two children are in college and high school. He has been running a food cart business since 1998 with his wife. His wife helps him to cook and prepare the food. He meets 3 trains a day and sells 50 dumplings and 3 boiled dinners at one time. The business is the only economic source for them to feed their family members and pay for the childrens' tuition fees. Batzorig is a diligent guy who has a broad plan to make the business bigger and says that "I would like to buy some supplies for my business. Also my mother sick and she needs to be treated." The total amount he is requesting is 600,000 MNT to pay for his mother's treatment costs.
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.