Narantsetseg T. is 64 years old and lives with husband and two children in Uvurhangai province, Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent.
Narantsetseg and her husband operate a meat trading business in their town. They sell a variety of meats to her customers at a stall in the local market. She started her business in 2000 and has since gained a lot of experience as a trader. They plan to purchase and preserve a large amount of meat when prices for such products are cheap due to the spread of animal disease.
Narantsetseg obtained a previous loan from the Xacbank in order to build a house and fence and still pays it. This loan will be her second loan, and she has proven herself to be a trustworthy customer. She is a very hardworking and responsible woman and says, "I am planning to buy a large amount of meats at a cheap price and sell them as a retailer which might be very profitable."
She is requesting a 3,000,000 MNT loan to purchase more meat in order to increase her sales.
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.