Enhbayar T. is 60 years old and lives with his wife and three children in the Hentiy province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic housing tent, in a rented yard. His wife is currently unemployed while his three children attend local school.
Enhbayar operates a transportation service in his town. He has been driving a taxi using his own Russian Jeep since 1993. He started transporting livestock using a big van. Over the years, he has gained a lot of experience as a driver and has achieved a stable level of operation. For the future, Enhbayar hopes to continue making progress with his business and says, "I am working hard in order to buy a new house and fence for my family". He is requesting a 1,300,000 MNT loan to purchase one more engine which will be used as a replacement for his van.
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.