Battumur is 44 years old and lives with his wife and three children in Zavhan province, Mongolia. He and his family live together in a ger, the traditional Mongolian nomadic housing tent. His wife, Uranchimeg, is a nurse in a local hospital. They have been living together in their current home for twenty years.
Presently, Battumur operates a transportation and timber-trading business in his town. During the winter, he transports coal and for the other three seasons he transports timber to Gobi-Altai province. He has been operating a transportation business for thirteen years, as well as a timber trading business for five years, and has steadily expanded his businesses.
Battumur has gained much experience in previous years and has a loyal customer base. He is a very hardworking person with a good personality. He says, “I am working hard to create financial security for my children's future.”
Battumur is requesting a 2,500,000 tugrug loan to purchase more timber for his timber-trading business.
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.