Narantuya U., age 27, lives with her husband and her two children in her own ger (the traditional nomadic housing tent) in the Huvsgul province. Her husband is a driver for a company and his monthly salary is 160,000 Mongolian tugriks (MNT).
She began to trade various kind of food products in 2000 and now she has a stable business operation. She is a very diligent and hard-working person who supports her entire family through her food-trading business. She purchases food products at wholesale prices and sells them at retail prices in her local town.
Narantuya is requesting a 3,900,000 MNT loan for working capital in order to expand her business and improve her food selection.
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.