Enebish is a 53-year-old man who lives with his wife and a daughter in Huvsgul province in Northern Mongolia. His daughter is 28 years old and his wife is employed. He started a beauty supply business in 2010 after he retired. When his daughter graduated as a pharmacist, he started a pharmacy business, too. He brings the supplies and his daughter stays at the shop counter and works as a shop assistant.
Enebish is a hardworking and pleasant man who says, "I would like to expand the business activity by purchasing the goods wholesale so that I could save on transportation expenses and spend it on the right needs." The total amount he is requesting is 2,500,000 MNT to buy the beauty supplies in large quantities.
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.