Azamat T. is 23 years old and lives with his wife and his parents in Bayan-Ulgiy province in western Mongolia. He lives with his family in a ger, a traditional Mongolian housing tent. His parents have been operating a fruits and vegetables selling business for many years. After graduating from secondary school in 2006, he began to be involved in his parents' business. Now his business working capital is 500,000 Mongolian tugriks (MNT). He is a very mannered and hardworking person who says, "I would like to expand my business and hope to one day own my own workspace."
He is requesting a 800,000 MNT loan to purchase a variety of vegetables to sell.
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.