Ganbaatar lives with his wife and three children in Uvs province, Mongolia. He and his family live in a ger, a traditional Mongolian nomadic tent. His two sons, aged 14 and 16, attend the local secondary school while the youngest, who is 1 year old, stays home with her mother. Ganbaatar operates a raw material and meat trading business in his town. He sells animal skins, primarily sheep and goat skins during spring time. During winter, he mainly sells meat and meat products for which the price is higher than any other season. He started his business in 1997. Over the years, Ganbaatar has become quite experienced in raw materials trading and has built a stable operation. He is now planning to expand his business in the near future. Ganbaatar's business is very important to him and his family. He says, "All I want is to provide for my children's education and raise them to be good people." He is requesting a 1,500,000 tugrug (~1050 USD) loan to purchase sheep and goat skins to sell for his business.
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.