Tsend-Ayush, 38, is married and lives with his wife and four children in the Uvs province of Mongolia. They live in a ger, a Mongolian nomadic housing tent, on a small plot of land that they have owned for the past 12 years.
Tsend-Ayush began his retail trading business in 2004. He sells stationery such as pencils, erasers, pincers, etc., and also sells clothes. His wife helps him with the business. They purchase clothes from China and sell them out of a stall, which they have rented for seven years so far. His current working capital exceeds 2,000,000 Mongolian tugriks (MNT), including his inventory.
He is a hardworking and sociable person. He is requesting a loan of 3,000,000 MNT to purchase more stationery and clothes from China for his business.
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.