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Narantsetseg
Narantsetseg is 49 years old and lives with her husband and five children in Bayanhongor province in central Mongolia. She and her family live in a ger, a traditional Mongolian nomadic home tent, on her sibling's fenced lot. Her three children are university students. Her husband works as a repairman at a standardization and metrology center and earns a monthly salary of 210,000 MNT.

Narantsetseg currently operates a grocery trading business out of a rented shop called "Rich Lake" in her town. Between 1992 and 1994, she operated a mobile meal business. From 1995 to 2004, she had a dairy products business. In 2004, she started her grocery store.

After many years of business, she has gained much experience. Her earnings have enabled her to not only improve her family's standard of living but also pay her three children's tuition fees. She is a professional construction decorator and does that work during the summer months in addition to her grocery trading business to supplement her earnings.

In the future, Narantsetseg hopes to continue operate her business at a stable level. Narantsetseg is requesting a 2,300,000 MNT loan in order to purchase more grocery products to sell in her shop.

Additional Information

About XacBank

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.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,240.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Narantsetseg to purchase grocery products to sell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 11, 2011
Listed
Jan 12, 2011
Currency Exchange Loss:
Possible
Ended:
May 18, 2012