Battsagaan G. lives with his family in Arhangay province, one of Mongolia's central provinces. Battsagaan has three teenage children who go to the local high school. In 2003, Battsagaan and his wife started their own business as wholesale meat vendors. They visit herders in the countryside with their truck and purchase livestock at a discount when they can. Once they bring the livestock home, they slaughter them and prepare them for sale. Once the meat is ready for the market, they sell it to wholesale middlemen from their town and Ulaanbaatar, the capital city of Mongolia. In the future, they would like to create their own channel to bring livestock to the town without visiting each herder in the countryside. They request a loan to purchase livestock from herders.
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.