Batsuh G. is a married father of a fifteen-year-old son and a ten-year-old daughter. Both his children attend elementary school. The family lives in a condo in Ulaanbaatar, the capital of Mongolia. Together with his wife, Batsuh has run a grocery store for the past seven years. Batsuh buys the goods wholesale and his wife, along with one saleswoman, runs the store. They pay $330 per month in rent on the store. Their average daily gross income is $200. About 20 percent of that is profit. They pay their saleswoman $100 a month. Batsuh owns a minibus for transporting goods for his business. Their dream is to one day have their own supermarket. Batsuh is a very open and cheerful person. They are requesting a Kiva loan to buy bread, flour, rice and vegetables.
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.