Baatarbek S. is a 29-year-old, business-minded, hardworking young man who lives with his wife and an infant in Khovd province, western Mongolia. His wife stays home taking care of their child.
Baatarbek started his transportation business in 2008 and since then, he has gained a lot of experience. He transports livestock. In another word, he purchases goats and other livestock from Khovd province, then he transports them to Ulaanbaatar city. He sells livestock in Ulaanbaatar in wholesale. As his business expanded, he purchased a plot of land where he built a nice house so that the family's living conditions have been improved. Baatarbek is requesting a 3,000,000 Mongolian tugriks loan to purchase goats to resell.
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.