Enhbaatar V. is 24 years old and lives with his wife and infant baby in Uvurhangai province in central Mongolia. He and his family live together in their own ger, which is a traditional Mongolian nomadic home tent, in his parents' yard. His wife is currently unemployed and takes care of their two month old son.
Enhbaatar operates a flour, rice and hay selling business out of a shipping container at the local market. He worked for a construction company in Ulaanbaatar, the capital city of Mongolia, after graduating from his university in 2009. In February 2010, Enhbaatar started his grocery selling business by renting the container. In addition he also conducts a class on model planes, based on his previous experience from attending the Robocon technical competition, to supplement his earnings.
Enhbaatar is a modest and hardworking man. He is requesting a 1,500,000 MNT loan to purchase hay for cattle to sell.
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.