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)
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 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.
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Success!! The loan was 100% repaid