Narantsetseg H. is 33 years old and lives with her mother and son in Songinohairhan district of Ulaanbaatar, Mongolia. She and her family live together in their own 2-room apartment. Her mother is retired while the son attends a primary school in their district.
Narantsetseg began her clothing business in 2005 and after several years of hard work, she was able to increase the number of stalls where she has been selling her products. Narantsetseg wants to expand the business even further by introducing new product lines from China. With these new product lines, she hopes to grow her customer base even further and dreams tof purchasing a car out of her business revenue.
Narantsetseg is requesting a 4,000,000 MNT loan so that she can begin to import these new product lines from China.
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.