Batbold is 53 years old and lives with his wife, two sons and a daughter in a small private house in Ulaanbaatar. His wife is a chief cook. His two sons and wife will help him with his business, and his daughter is a student at the Radio & Television University of Mongolia.
From 2009 to 2011 Batbold worked in the ASSAIT cafe as a cook. Because of his and his wife's experience, he has decided to start his own cafe. He is requesting a 1,500,000 MNT loan to have working capital to purchase culinary equipment.
The location he has chosen for his business is in front of the university, therefore, he expects solid sales as soon as he is in operation. He is an honest and hardworking man. Batbold's goal is to buy his own work space.
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.