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Enhbayar is 46 years old and lives with his wife and three children in Arhangai Province, Mongolia. They have been living in their current home for 15 years. In 1999, he rented a counter at a local market and started his used product trading business. Since he started his business, Enhbayar has been able to pay his children's university tuition fees and afford his household expenses. Currently, he has a working capital of 3,000,000 tugrug (~2100 USD). His wife has been supportive of him and his business since the beginning. Enhbayar is a very hard-working person. He is requesting a 2,500,000 tugrug loan to purchase additional inventory in Ulaanbaatar, the capital city of Mongolia.

Additional Information

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,450.2
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,725 helped Enhbayar to purchase additional inventory.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 23, 2010
Mar 4, 2010
Currency Exchange Loss:
Apr 16, 2011