Batjargal is 58 years old and lives with his children and wife in a ger (traditional tent like structure), in Ulaanbaatar, Mongolia.
His sons are taxi drivers. His wife sells vegetables at the local market. He started his taxi business in 2004. Now he and his two sons earn a daily profit. Their daily income is about 100,000 MNT.
"Starting next year, my sons will marry and I need to prepare for their weddings and other things," says Batjargal.
He is requesting a 2,500,000 MNT loan to redecorate his apartment and to buy a storage house.
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.