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Enhbayar
Mr. Enhbayar is 35 years old and lives with his mother, wife, and daughter in a small house in Selenge province of Mongolia. His wife Otgonjargal is currently unemployed and stays at home to take care of her family. His daughter Altanzul is a local school student.

Enhbayar started an auto repair service business by renting the workplace in 2009. He has been well-known among the clients for his welcoming and qualified services. His business has stopped due to lack of investment and tools, and he is now requesting a loan of 5,000,000 MNT to purchase tools and equipment to continue providing his business. He is a passionate, responsible and hardworking man.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,697.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,950 helped Enhbayar to purchase tools and equipment to continue providing his services.
49% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible