Narantsetseg is 39 years old and lives with her husband and three children in a house in Dornod province of Mongolia. Her older daughter is a student and the younger two are pupils. Her husband is a sculptor who is planning to start his own business in the near future.
Narantsetseg manages a grocery trading business in her town. She started her business in 2009 in a rented stall at a grocery trading center. Within three years of business operation, she managed to expand and stabilize her business and opened her own grocery store. She is planning to deposit her business earnings in savings to buy a car in the future.
Narantsetseg is a diligent woman who attributes her business success to her good communication skills. She says, "I would like my children to be educated and have a nice life." She is requesting an 800,000 MNT of loan to purchase more grocery goods.
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.