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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.

Additional Information

About XacBank

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.

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,235.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Enhbayar to purchase more wood and material.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 11, 2011
Jan 28, 2011
Currency Exchange Loss:
Feb 17, 2012