Bathishig C. is 31 years old and lives with his wife and two children in Huvsgul province, Mongolia. He and his family live in a ger, a traditional Mongolian nomadic housing tent. Bathishig and his wife operate a clothing retail business and have two shops in their town. His wife sells a variety of clothes in a rented stall the local trade center while Bathishig sells from a rented container in the local market. Bathishig first started his clothing business in 2008 by traveling to the Chinese border city of Erlian to purchase clothing items and transporting them back to his shop. Bathishig quickly became successful and has achieved a stable business.
Bathishig and his wife are very hardworking people and have used their business income to greatly improve their quality of life. In the future, Bathishig plans to have his own workplace. He is requesting a 3,000,000 MNT loan to purchase more items for his clothing business to increase his working capital.
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.