B. is 33 years old and lives his wife and six-year-old son in Zavhan, one of western provinces of Mongolia. He and his family live in a "ger", a traditional Mongolian tent. His son attends a local secondary school. B. operates a livestock-related raw materials trading business in his province with the help of his wife. He usually purchases animal skin, unprocessed goat cashmere, etc. He has been conducting his business for many years and has had much success over the years. B. hopes to continue to expand his business in the future. He says, "With continued growth, I hope to improve my quality of life." He is requesting a 3,000,000 tugrug loan to purchase raw materials to sell for his 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.