Mr. Ganhuu is 49 years old and lives with his wife and son in a ger in the Hentii province of Mongolia. His wife is currently unemployed and stays home. His son Darhanbaatar, age 22 works as a electrician at rental place. Ganhuu has been drawing and painting pictures by order since 2000 at his home. He has gotten orders from the local court house and a kindergarten and needs 2,000,000 MNT to purchase some tools and paints to meet the order and run his business. He is a hardworking and diligent man who dreams about having his own business in his own workplace.
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.