Enhbadrah L. is 46 years old and lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. He and his family live together in a ger, the traditional nomadic housing tent. His wife works as a nurse at the children's hospital and their oldest son is a college student.
Enhbadrah started his business in raw-materials trading, then he changed it to trousers selling. He owns a stall at Narantuul, the largest outdoor market, where he operates his business. Once or twice a month he purchases his goods from China. Enhbadrah wants his children to get a good education.
He is requesting a 2,000,000 Mongolian tugriks loan to purchase more goods.
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.