Azamat is 24 years old and lives with his wife and children in a ger in the Bayan-Ulgii province of Mongolia. His wife is unemployed at the moment. Azamat started his business in 2006 by selling vegetables, which he had previously done with his parents. His turnover capital has reached 1,000,000 MNT. In addition, he has received a truck from his parents and now transports vegetables for others. In the future, he plans to expand his business. He is a hardworking and diligent man who says: "I have many plans for my family and business. The most important plan is to build a house." He is requesting a 2,000,000 MNT loan to purchase more vegetables.
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.