Enhsaihan is 36 years old and lives with his wife and two children in Uvs province, Mongolia. He and his family live together in a ger, the Mongolian nomadic tent, in a yard which belongs to his mother-in-law. He uses his car to operate a taxi service. He takes local residents to and from various points in his province. Enhsaihan has been operating his business since 2006, and each year he repairs and renovates his car. Starting in 2010 he will take local residents from Ulaangom, the capital of Uvs province, to Hovd soum, the capital of Hovd province. His business has been expanding, and his wife plans to work in his business in the future. Enhsaihan is focused on the future and would like to purchase his own plot of land with a yard. He is requesting a 1,500,000 tugrug (~ 1055 USD) loan to buy an additional car for his taxi business.
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.