Narantsetseg is 46 years old and lives with her husband and daughter in the Suhbaatar district of Ulaanbaatar, the capital city of Mongolia. She and her family live together in an apartment. His daughter attends a local primary school while her husband is currently unemployed. She graduated from Construction Vocatioanl School as an operator in 1983.
Narantsetseg operates a household goods trading business out of a rented stall at the construction trade center in the city. She has been engaged in this business since 2007 after working at her occupation from 1990. She is requesting a 2,000,000 MNT loan to import more household goods from Erlian, a border city in China in order to increase her working capital for her 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.