Enhbaatar R. is 25 years old and lives with his wife and three-year-old daughter in Tosontsengel province, Mongolia. He and his family live in a 'ger', a traditional Mongolian nomadic home tent. His wife is a nurse but currently unemployed and so she helps with Enhbaatar's business while he works as a carpenter in their town. He has owned his carpentry business since 2007, after living in the countryside as a herder till 2006.
Within the short time he has earned the loyalty of his customers because of the quality of his work and service. At first, he started to produce small wooden products such as tables, chairs and boxes, etc., and since 2008, has been making and selling a range of furnishings in Ulaanbaatar, the capital city of Mongolia, and through the "Ger Initiative" project of ADRA International Non-Government Organization.
He produces not only a variety of furnishings but also a small souvenirs such as dolls, toy vehicles and carriages to sell through the ADRA organization. After years of successful operation, his earnings have enabled him to purchase a plot of land and a fence. Moreover, he was able to start building a new house that will be used as both a workplace and living accommodation.
Enhbaatar says, " I will have soon my own house and now I plan to buy a new car that will enable me to operate a taxi service and transport my own products." He is requesting a 1,500,000 MNT loan to purchase a new car in order to start a taxi business.
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.