Batjargal is a 28-year-old man who lives with his wife and a daughter in Dundgovi province, Mongolia. His wife is on maternity leave.
Batjargal has started making doors, upper frames for gers (a traditional Mongolian dwelling), furniture, and other necessary parts for traditional gers. Also, he makes traditional instruments and souvenirs. He has lots of experience in this area as he has been making this type of furniture for 17 years. He always aims to produce the best quality furniture for his customers.
Batjargal is an open-minded man who says that "I would like to improve my business activities by purchasing the necessary materials for the business. I am planning to make some furniture for my own ger this year." The total amount he is requesting is 2,000,000 MNT to buy the necessary materials for his production 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.