Enhbayar D. is 24 years old and lives with his wife and one-year-old son in their own house in Uvs province of Mongolia. His wife is currently unemployed and is taking care of their son. Enhbayar has been operating a wheel and tire repair center since 2007 and has found success with his business. With his earnings, he was able to build a car repair center in his yard in 2008. He has built a successful operation within a short period.
In 2009, he also started a taxi service after purchasing a new car from his earnings. Since starting his business, not only has his business expanded but also his financial situation has improved. Today he has his own car, house, and garage. Enhbayar is a very modest man who says "All I want is to have my own repair service center." He is requesting a 800,000 MNT loan to purchase lubricant oils for machinery.
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.