Davaa is a 55-year-old man who lives with his wife and 3 children in Arhangai province in Central Mongolia. His wife is a retiree and his son studies at the college. Davaa used to work as a driver. After he retired he started making traditional boots based on his talent. He has been running the business for 8 years. During that time, he has made many regular customers, as wearing the boots has a lot of advantages especially in wintertime. He produces qualified traditional boots and sells them to the customers of the neighbor provinces. He has been earning and improving the household's livelihood. Davaa is a hardworking and talented man who says, "I would like to expand the boots production business by buying the necessary materials in large quantities. I plan to save for my son." The total amount he is requesting is 1,000,000 MNT to buy necessary materials for making boots.
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.