Huantai is 40 years old and lives with his wife and two sons in a ger (Mongolian yurt) in Bayan-ulgii province, Mongolia. His wife helps with his business. His elder child is a college student and the younger one is school student. He started his business in 2010 by purchasing two cows to milk. Now he has 10 cows and produces 20 L's of milk. Now that it's winter season, it's impossible to find natural resources to feed the cows. He is a sharp and hardworking man who says"I am almost out of supplies, and I need to do everything I can in order to make this right". Therefore, he is requesting 2,000,000 MNT to buy food for cows.
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.