Azhuu is 41 years old and lives with his three children and wife in a ger, a Mongolian yurt, in the Hovd province of Mongolia. His two eldest children are college students and the youngest one is a high school student. His wife manages a soft drink producing factory.
Azhuu operates car repair center. He has been repairing cars since 2004. During the summer season, he hires two employees and pays them each 200,000 MNT as a salary.
He is remodeling his garage and he is planning to upgrade and improve his equipment and technology.
He is a hard-working and diligent man who says, "The demand of car repair service is less during the winter. It is almost impossible to repair cars outside during the winter season. Thus, I want to expand my garage and repair cars in winter."
He is requesting a 2,500,000 MNT loan to purchase materials and new equipment for his shop.
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.