Batsuren Y. is 38 years old and lives with his three daughters in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Two of his daughters are students in a local high school #84. His youngest daughter is just 3 years old and stays home with her mother. Batsuren's family moved to Ulaanbaatar after selling off all their livestock in the countryside where they were born.
Batsuren's family runs a small convenience store which is located just next to their small house. They sell various food products such as soft-drinks, bread, candies, etc. His wife works as a saleswoman at the store and Batsuren frequently goes to the wholesale markets in the city to purchase food products for his store. Batsuren and his wife dream of making their small convenience store into a large supermarket where they will be able to sell a more diverse range of products in the neighborhood.
Batsuren requests a loan to purchase more food products for their store and, with the left-over money, would also would like to fix the roof of the store before the harsh winter.
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.