Mr. Batbaatar is 26 years old and lives with his wife and daughter, in a ger in Huvsgul province, Mongolia. His wife, Enhsaihan, stays home taking care of their newborn baby daughter, Amin-Erdene, age 1.
Borrower has been working with his father to produce wooden furniture since 1999. He started his own wooden furniture manufacturing business at his home, in 2010. He has a lot of experience and regular customers. He is now requesting to borrow 500,000 MNT to purchase equipment that will increase his speed of production. He is hard-working and diligent.
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.