Ochir B. is 27 years old and lives with his wife and two-year-old son in Uvurhangai province, Mongolia. They and his mother live together in their own apartment. Ochir owns and operates a pet shop in his house. He sells a variety of animals through his shop and has found a success with his business. He makes a fish aquariums and animal cages for his pet shop. His business is very popular because it is only business of that type in the province and therefore attracts many customers.
To supplement his income, he also works as an agent of MCS Company in Uvurhangai province. For the future, his dream is to educate his child at a good university. Ochir is requesting a 3,500,000 MNT loan to purchase fish and glass for his pet shop.
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.