Azen lives with his wife in ger (Mongolian yurt) in Bayan-Ulgii province, Mongolia. His wife helps with his business. He started his garment retailing business in 2007 by renting a counter in a market. Now he runs a whole shop and his business is expanding rapidly. He is well known for his eye for fashion. Now that winter is approaching, he needs money to buy warm clothes. He is a sharp and hardworking man who says, "I started this business from scratch; now that I'm here, I believe that someday I can build my own store". He is requesting 3,700,000 MNT to purchase 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.