Hadbaatar is a 33-year-old man who lives with his wife and 2 children in Huvsgul province in Northern Mongolia. His daughters go to secondary school and kindergarten. His wife operates a sewing business. He started a taxi service business in 2009. Now he runs a cargo business with his truck. He has many customers in the town and the surrounding areas. But due to the bad roads in the countryside, the truck trailer has broken down. Hadbaatar is a responsible man who says: "I would like to expand the business activity by making the truck trailer repaired. I want to continue the business successful." The total amount he is requesting is 2,000,000 MNT to repair his truck trailer.
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.