Natsagmaa H. is 32 years old and lives with her father, husband, and two daughters in Ulaanbaatar, the capital city of Mongolia. She and her family live in their own apartment. Her father is retired and stays at home while her two daughters both attend local secondary school.
Natsagmaa currently operates a small bakery in her local area. She started her own business in 2006 by importing cars from Japan to sell for a profit after working as a manager in the Best Land C., Ltd between 2003 and 2005. She operated a children's clothes trading business in the Narlag trade center in 2008 and has been managing a bakery business since 2009, making a variety of breads and baked pastries. She runs her bakery production in a rented space and produces eight types of bread and pastry to supply to up to eight different places/organizations. She pays rental fees of 300,000 MNT per month.
Over the short period of operation, she has managed to increase her working capital and has built up a stable and successful business. Also, she was able to hire two more workers. She pays a monthly salary of 500,000 MNT each to her employees. Her monthly average net profit is between 500,000 and 600,000 MNT.
She is a very active, diligent and hardworking businesswoman and says, “ I am saving money for my children's future education." Natsagmaa is requesting a 2,000,000 MNT loan. She will use this loan to purchase cake boxes at 700,000 MNT and with other monies left over from the loan plus her own cash, she is planning to buy a new micro bus for her bakery 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.