Mr. Erdenebaatar is 29 years old and lives with his wife and two children in a rental apartment in the Orhon Province of Mongolia. His wife, Nandinjargal, 25, is a Masters student and temporarily stays home because she just gave birth to their son, Irmuun, 7 months ago. His daughter Misheel, age of 4, goes to a local kindergarten.
Erdenebaatar has been running a mobile phone repair business since 2008. He is now planning to expand his business and start selling mobile phones at his rental counter in a local shopping center.
He is now requesting 3,500,000 MNT to purchase more inventory, so he can run his business with a higher income.
He is a well-communicative, friendly and hardworking man.
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.