Mr. Harakoz is 29 years old and lives with his parents, brother, and son in a small house in Bayan-Ulgii province. His parents are retired and stay home. His brother works at a local private company. His son Mairambek, age three, goes to a local kindergarten.
Mr. Harakoz has been running a transportation service in town for ten years. He has built strong relationships with his customers. He is now requesting 3,000,000 MNT to purchase spare parts for his truck and to help run his business smoothly. He is a hardworking and modest man; he has a good record and has not been delinquent on his previous loans from XacBank.
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.