Mr.Serikbol is 40 years old, and lives with his wife and four children in a house in the Bayan-Ulgii province, Mongolia. His wife Saltanat is currently unemployed. His older two children are university students, and younger two children are high school students.
Serikbol has been providing a taxi service business in town for years. He is a reliable and careful driver, and also is known among the residents with his quality service. He has been driving his old car for years, and now it needs to be replaced to provide his taxi service to his clients.
He is requesting a loan of 2,500,000 MNT to purchase a better car to provide his taxi service business. He is a hardworking and helpful man.
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.