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.
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.