Enhbaatar N. is a 39 year old single man who lives with his mother, father and brother in Tuv province in central Mongolia. He and his family live in a ger, a traditional Mongolian nomadic housing tent. His parents are both retired, while his brother works in the folksong and dance ensemble of Military as a singer.
Enhbaatar uses a large van, or micro bus, to transport people within Ulaanbaatar, the largest city and capital of Mongolia. He started driving in 1992. Since 2003, he has been transporting people by his micro-bus. He has found success with his business and has gained much experience as a driver over the years. His earnings have enabled him not only to improve his family's standard of living but also to purchase a new small car for his father.
Enhbaatar is a very honest and hardworking person. For the future he hopes to continue to provide a quality and efficient transportation service. He is planning to purchase a new, good quality micro bus after selling his previous mini bus. He is requesting a 3,000,000 MNT loan to upgrade his current mini bus.
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.