Harligashim S. is 34 years old and lives with her husband and 7-year-old daughter in a ger, a traditional Mongolian nomadic tent home, in the Bayan-Ulgiy province of western Mongolia. Her daughter attends a local elementary school. Harligashim is a teacher with a monthly salary of 160,000 MNT and teaches lessons to handicapped and disabled people. Her husband has been working as an assistant truck driver since 2004. Depending on sales of coal, her husband earns between 100,000 and 150,000 MNT in one month. Her husband does not have his own truck, and it is difficult to work under someone. Their family's standard of living has not been improving so far. Harligashim is a hardworking and open-minded person and says, “We want to save more money in order to buy a new truck in the future.” She is requesting a loan of 1,300,000 MNT to purchase meat and coal in preparation for winter.
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.