He started his business in 2000 with working capital of 150,000 MNT and has built a stable operation. After years of successful operations he has managed to increase his working capital to a level exceeding 4,000,000 MNT today. Baatarzorig has gained much experience and knowledge over the years, and he hopes to use this experience and knowledge to keep his business growing.
His earnings have enabled him to renovate his house and purchase new furniture. In addition, he has used his earnings to build a new garage which is used for storage of his raw materials. With profits from his enterprise, he has also been able to greatly improve his family's standard of living. Baatazorig is a very helpful and hardworking man who is requesting a 3,000,000 MNT loan to purchase more raw materials such as sheep and goat's skin, leather and wool, etc. in order to ultimately increase his working capital.
About XacBankThis 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.
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