Davaachuluun is 52 years old and lives with his wife and son in a ger (Mongolian yurt) in Govi-Altai Province, Mongolia. His wife helps with her business, and his son is a college student. He started his meat retailing business in 1995. His business is pretty much the same since then, therefore this year he decided to travel across countryside by himself and buy the livestock himself. He has already done some research and found a number of suppliers. However, due to his financial problems, it is impossible to buy livestock. He is a sharp and hard-working man who says, "It's been tight since my son joined college, so I had to do something to make this right." He is requesting 2,000,000 MNT to buy livestock.
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.