Mr. Enhtuvshin is 28 years old and lives with his wife and 3 children in their Ger, a traditional nomadic yurt house, in Zavhan province, Mongolia. His wife Uranchimeg is currently unemployed, staying at home taking care of their 3 children who are under age 3.
Enhtuvshin started his business about 3 years ago and has been learning a lot from his past business operations. He is well-known among clients for his quality products and services. He is a hardworking, caring and talented man who is now requesting a loan of 2,500,000 MNT to purchase additional tools, equipment and spare parts to increase his efficiency and productivity.
He needs to work even harder to increase his income to cover family expenses, especially since his wife is not working, but caring for their 3 children who are under the age of 3.
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.