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Enhtuvshin
Mr.Enhtuvshin is 28 years old lives with his parents and younger sister in their apartment in Ulaanbaatar city, Mongolia. His parents both work at local companies and his sister also works at a local company as accountant.

Mr. Enhtuvshin started his business as foreign trade and business consulting services with his friend. They are hardworking and innovative people who always seek business opportunities. He has done some research on his new business idea of the importing and sales of youth skin care products. Mr. Enhtuvshin and his business partner have written a business plan for their skin care products, specially designed for youth, and have been granted the technical support from Development Solutions local NGO, which are now piloting the "Youth Business Mongolia" project to support young entrepreneurs' ideas.

He is now requesting a loan of 8,000,000MNT to invest in his idea to provide youth skin care products, which is a completely new and appropriate product for the targeted market. They are going to use the right marketing channesl to promote their products and to expand their reach.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,730.0
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,625 helped Enhtuvshin to invest in his idea to provide youth skin care products, which is a completely new and appropriate product for the targeted market.
37% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Feb 28, 2014
Listed
Feb 14, 2014
Currency Exchange Loss:
Possible