Davaachuluun is a 44-year-old woman who lives with her husband and 2 daughters in Hovd province of Western Mongolia. Her husband is an entrepreneur and her 2 daughters study at a college. She has been running a meat and livestock retailing business since 1995. Her husband gets the supplies from the neighbor provinces and she retails them at the big market. She got experienced in the field and this business income is the only financial source for the family. She would like to make a business expansion by getting supplies in large quantities due to the approach of the biggest festival in Mongolia. She is a really diligent woman who says that "I want to expand my business so that I could improve my family income and living standard". The total amount she is requesting is 2,000,000 MNT for the supplies (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.