Bathuyag J. lives with his wife and four-year-old son in Ulaanbaatar, the capital city of Mongolia. His wife, Dolgorsuren, is a salesperson in a general store. During the day, Bathuyag operates a public transport business using his own micro-bus. He transports people between various districts of the city. Over the years, J. has become a very experienced driver who is known and trusted by his many customers. Bathuyag hopes to continue his business successfully in the future and sees many opportunities to grow his business. He hopes to refurbish his micro-bus soon. Bathuyag is requesting a 1,500,000 MNT loan to build a house for his family.
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.