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Enhbayar
Enhbayar is 40 years old and lives with his wife and three children in their small house in Dornogovi province, Mongolia. His wife, Budmandah, used to be obstetrician and lately they have been running various types of businesses to increase their family income.

Enhbayar has been running a welding and blacksmith type business at home during the summer since 1990. He graduated as a translator and interpreter and works part-time at a tourist camp as a driver/translator during the tourist season. He has built a small workshop on their plot of land to prevent his business from being seasonal because of the weather.

His wife used to run a small Internet cafe in their spare room last year, and now she is planning to start a small grocery store in that room.

He is now requesting a loan of 2,000,000 MNT to purchase starting inventory for his wife's new grocery store. The Enhbayar's are hardworking and diligent people.

In the picture: Enhbayar (making metal stove)

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,727.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Enhbayar to purchase starting inventory for his wife's new grocery store.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 29, 2013
Listed
Dec 5, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014