Naranhuu is 59 years old and lives with her two children in an apartment in the Songino-Hairhan district of Ulaanbaatar, the capital of Mongolia. Her daughter is disabled and her son is in primary school. She makes a living by owning and operating a grocery store where she sells a variety of food items to her customers. She opened the store in 2006 and has since built it into a successful and stable business. Today her daily average income exceeds 250,000 MNT and her monthly profit is between 400,000 and 500,000 MNT. She has one employee who is a salesperson and earns 300,000 MNT a month. Naranhuu is very hard working and determined to achieve her goals. She says, "I plan to repair my car in the near future." She is requesting a 3,000,000 MNT loan to improve her store and to buy a new refrigerator with glass door for groceries.
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.