Daken H. is 54 years-old and lives with his wife and two children in Bayan-Ulgiy province of western Mongolia in a ger -- a traditional nomadic housing tent. His elder son helps with his business and his daughter attends a local middle school. His wife is a handicapped and stays at home.
Daken operates a taxi service between the countryside and the capital of the province. He started his business in 2000 with a big van transporting people to Kosh Agash - a border point with Russia. After ten years in business, his car has been getting quite old, therefore Daken transports people only twice a week now. He works very hard to provide for his family. He is a polite and creative person who wishes to buy a newer and small car so he can earn more. [Daken is requesting a 3,000,000 MNT loan to import a variety of clothing for personal use.]
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.