Enhbaatar is 28 years old and lives with his two children and wife in a ger, a Mongolian yurt, in the Tosontsengel province of Mongolia. His wife helps him to manage the family business.
He started his business in 2010 by selling food and other products in his hometown. He is very encouraged with his business growth and expansion. He believes that he will be a successful businessman in the near future.
He is a diligent and hard-working man who says, "I want to develop and expand my business with the bank loan. I also have a plan to buy a car for my business and family. I think this is only the start of everything."
He is requesting a 3,500,000 MNT loan to buy construction materials to build the grocery shop.
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.