Narantsetseg D. is a 40-year-old woman who lives with her husband and four children in Hovd province, western Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. All of her four children attend a local middle school while her husband works as a repairman in a local company. Narantsetseg operates a clothing retail business out of a rented stall at the local market called Ih Buyan. She started her business in 2008 and has found success in her trade and used her earnings to support her family. Narantsetseg and her family have also grown some vegetables on their plot of land. She is requesting a 2,750,000 MNT loan to purchase more children's uniforms 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.