A loan of $1,400 helped to purchase wood and other necessary materials for his business.


Batmonh's story

Batmonh G. is 37 years old and lives with his wife and three children in Hovd province, one of Mongolia's western provinces. His three teenage children are students in a local secondary school. Batmonh does a small business in carpentry with his wife. He is a talented carpenter who makes traditional wooden furniture for locals. His wife sells his furniture at the local market where she rents a stall for the products. Batmonh has been running a small carpentry shop with one assistant since 2004, his assistant being paid according to his contribution on each furniture project. In addition to his furniture-making business, his family also has a small farm with about 20 pigs and five chickens. They sell the eggs from their chickens and plan to sell their pigs during this year’s New Year celebrations when pork prices peak.

Batmonh says that he would like to expand both his furniture business and his small farm, which can be run by his wife. He is requesting a loan to purchase wood and other necessary materials for his business.

About XacBank XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

To get regular updates from XacBank, please join our lending team: http://www.kiva.org/team/xacbank_mongolia To lend to more Mongolian borrowers, please click here:http://www.kiva.org/app.php?page=businesses&queryString=Mongolia&status=fundRaising&gender=All§ors[]=All®ions[]=All&sortBy=Expiring+Soon



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Loan details