Enhtur O. lives with his wife and two children in a ger, a traditional Mongolian nomadic housing tent, in Suhbaatar province in Mongolia. Both of his two children attend the local high school while his wife operates a block imprinting business outside of their home.
Enhtur and his wife began their own business in 2003 by operating a meat trading business, which is currently stalled due to insufficient working capital. Instead, he has been driving a taxi since 2009 after purchasing a new Excel car, and has built a stable operation. They are planning to imprint more blocks in order to build a new garage for his car. Moreover, he hopes to build his own house for his family by 2011.
Enhtur is a modest, diligent and hardworking man and says, "I am planning to build and move in a new house before my children start attending universities." He is requesting a 1,300,000 MNT loan to purchase necessary parts for his car and also to produce ceramic blocks that will be used in the construction of his new garage.
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.