Narantuya T. is 37 years old and lives with her husband and son in Tuv province in central Mongolia. She and her family live together in a ger, a traditional nomadic housing tent. Her husband operates a taxi service business.
Narantuya operates a food retailing business out of a small shop. She started her business in 2008 with working capital of 200,000 MNT and, since then, it has reached 2,500,000 MNT.
Over the years, Narantuya has worked hard to build a stable business operation and has gained much experience. Her business is very important to her and her family. She says, "My only wish is to enlarge the business and purchase a bigger store than the current one."
Narantuya is an openminded, easygoing and hardworking woman. She is requesting a 1,500,000 MNT loan to purchase more products for her 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.