Anhbayar E. is 33 years old and lives with his wife and two sons in their own apartment in Ulaanbaatar, the capital city of Mongolia. His oldest son, 3, attends a local kindergarten while his infant son stays at home. His wife works as an accountant for a local company.
Anhbayar sells medicines that are used for all kinds of kidney diseases such as kidney failure, nephritis etc, through his mother's grocery shop. He started his business in 2009 by selling medicines which are imported from France.
Anhbayar is a very peaceful and gentle man. He says, "My dream is to open my own pharmacy." He is requesting a 3,000,000 MNT loan to use for product advertisement costs in order to increase his sales and attract more customers.
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.