Battulga D. is forty-six years old and lives with his wife and two sons in Uvs Province, one of Mongolia's western provinces. His two sons are ten and thirteen years old and both go to a local secondary school. Battulga is a herder with livestock including horses, cattle, sheep, and goats. He has been herding animals for the last twenty years and is an experienced herder in the town. In the winter, he sends his animals to a better pastoral land. While he is away from his animals, he sells dairy products and meat. He rents a small shop where he sells various dairy products including cheese, curds, and milk cream, and meat such as beef and mutton for locals. He requests a loan to purchase more dairy products and increase shop inventory products to meet the demand from local customers.
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.