Narangerel J. is a 58-year-old widow who lives in a house in Darhan-Uul city, Mongolia. Her two children, ages 26 and 22, are both are students and currently live and study in Ulaanbaatar, a capital city of Mongolia.
Narangerel operates a raw material trading business in her town, where she sells things like the intestines of livestock. She used to work as a specialist in Mah-Expo company between 1973 and 2002. She started her own business in 2000 with the help of her children and since then, she has built a successful and stable business operation. She processes livestock's intestines in her home.
Her earnings are the only source of income in her family and they have enabled her to pay her daughters' tuition fees.
Narangerel is a very modest and hardworking woman and says, “I wish to have my children (have) a good education and living accommodation as well as decent jobs."
She is requesting a 3,500,000 MNT loan in order to purchase a large amount of cow intestines at a wholesale price for the upcoming busy season.
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.