Amarbat currently owns 250 sheep, 80 goats, 10 cows and 8 horses which he raises and uses to supply his business. He purchases new animals every fall and sells their meat during the spring when it is most profitable. It is quite a large task to take care of all the animals, but Amarbat has help. His wife and children all help out by tending to the animals at home.
Amarbat started his business in 2000 and has become quite successful in his trade. He continues to grow his business and has plans to have his own farm and improve his breeding practices in the near future. He works very hard to support his family and says, "I want my children to be well educated so they can lead happy lives.” He is requesting a 1,500,000 tugrug loan to purchase more livestock for his business.
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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