Narantsetseg A. is a married mother with one son. Her family lives in Ulaanbaatar, the capital city of Mongolia. Together with her husband, Gantumur, and sister, Narantsetseg has been running a candy stall for the last three years. She runs her business out of a rented booth at Narantuul, the largest outdoor market in Ulaanbaatar City. When she began her business, her working capital was only one million tugrug ($1=1400 MNT). As a result of her hard work, it has increased to four million tugrug. The income from candy sales is the only income for her family. She is planning to rent another booth to expand her business.
Narantsetseg is requesting a loan to buy candy at the wholesale market to increase her business inventory. Her dream is to help her only son lead a healthy and fulfilling life.
About XacBankThis 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.
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