Batnairamdal J. is 39 years old. He lives with his wife and three children in Hovd Province of Mongolia. He and his family live together in a ger, a yurt or traditional Mongolian nomadic tent. His three children attend the local school where his wife is a teacher.
Batnairamdal operates a painting and advertisement poster service in his town. He has been engaged this business since 1990 and has gained a lot of experience as a painter. He is a very talented craftsman who produces a variety of fine arts and picture frames. In the future, Batnairamdal plans to operate a picture-frame manufacturing business with help of his sibling in Ulaanbaatar. He is a skillful, communicative and clever artist. He is requesting a 3,000,000 MNT loan to purchase the materials, tools and supplieshe needs for his picture frame 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.