Enhbaatar is 36 years old and lives with his wife and two sons in their own house in Arhangai province, Mongolia. His wife is a teacher at a secondary school while his two sons, who are 2 and 5 years old, go to kindergarten.
Enhbaatar manages a used clothing trading business out of a rented stall in a local market. He started his business in 2005 with the working capital of 500,000 MNT. His business was quite successful, and that enabled him to increase his working capital to 2,300,000 MNT.
Sometimes he exchanges his products for dairy products traded by herdsmen. This barter-trading made his business as comfortable as possible for the herdsmen. Enhbaatar is very honest man who wants to own his clothing factory someday. He is requesting a 2,500,000 MNT loan to purchase more used clothing for his 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.