Mr.Enhjargal is 56 years old lives with his wife in a small house in Zuunharaa soum of Selenge province in Mongolia. His wife, Oyuntsetseg, grows organic vegetables in their plot of land and sells to local retailers. Their children have gotten married and live apart from the couple.
Enhjargal has been operating a small carpentry services business since 2000. He built a small workplace right next to their own house and started manufacturing Ger, the traditional nomadic tent, parts and wooden furniture to local residents. He has been praised by his clients over the years with his quick but quality products. He is now requesting loan of 1,650,000MNT to purchase inventory to meet client's orders right on time and to make them happy with his products.
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.