Enhbayar, 54, is married and lives with his wife and three daughters in Ulaanbaatar, the capital of Mongolia. They live in a ger, which is a Mongolian nomadic housing tent. His oldest daughter and wife help his business while his two younger daughters attend University.
He started a woodcraft and car repair service businesses in 1999. He makes wood products which his wife sells at Narantuul, the biggest outdoor market in Ulaanbaatar. By operating his business he supports his family and pays for the studies of his daughters. Their living situation is improving little by little. They have their own land where someday they dream of building a house.
Enhbayar is a hardworking and humble man who says that he is trying to provide his daughters with an opportunity to get a good education. He is requesting a loan of 3,000,000 MNT to purchase more wood and material for his woodcraft 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.