Update on EnhbatMr Enhbat is 39 years old and lives with his wife and four children in Ger, in a traditional nomadic yurt, in Hovd province, Mongolia. His wife helps her husband's business. His older child is a university student and his three younger children are local school students.
Enhbat has been working as an assistant at a construction site since 2000. He graduated from a special training course in interior and exterior design construction in 2003. He started his business with a group of people as contractors in 2005. He is a very experienced and hardworking man who dreams about creating a construction company someday. He is now requesting loan of 2,000,000 MNT to purchase tools and equipment for his business.
Previous Loan DetailsEnhbat S. is 36 years old. He lives with his wife and four children in the Hovd Province of Western Mongolia. He and his family live together in a ger, a yurt or traditional Mongolian nomadic tent. All four of his children attend the local school. Enhbat operates a construction business that… More from Enhbat's previous loan »
About XacBankThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid