Tsedev is 39 years old and lives with his wife and two kids in a ger, a mongolian yurt, in Hovd province of Mongolia. His wife helps with his business, his elder daughter studies at school and the younger one goes to kindergarden. He started his garment retail business in 2006 by renting a counter in the market. Now he owns the counter, rents another one and is ready to buy that counter. Due to the purchase of the counter, he is lacking money to run the business. He is a sharp and hardworking man who says "My business is expanding rapidly and I will not stop". He is requesting 1,700,000 MNT to buy winter clothes.
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.