Amgalanbaatar is 24 years old and lives with his wife and daughter in a ger, a Mongolian yurt, in Govi-Altai province, Mongolia. His wife is a dancer who is taking care of their daughter.
He manages a meat and dairy product trading business in his town. He started his business in the beginning of 2010. Before his business operation he used to help with his parent's business. Therefore he gained much experience and is skilled in accounting.
Now he is planning to have one more stall in order to increase his sales channel. He is a friendly man who says, "I am planning to expand my business in the future. " He is requesting a 2,000,000 MNT loan to purchase meat 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.