Narantsetseg is 45 years old and lives with her husband in a ger, Mongolian yurt, in Uvurhangai province of Mongolia. All her children are grown up and live separately. She manages a food cafe, with the help of her husband, in her town. She started her business in 2001 and has been able to build a strong customer base. Her food cafe is located along the main road of her province. Therefore she has many regular customers and her business is quite profitable. She attributes her business success to the good location of her food cafe.
Now, Narantsetseg's working capital exceeds 1,800,000 MNT. She is one of the experienced and knowledgeable businesswomen, who is planning to expand her food cafe. She is a polite woman who says, "All I want is to have big building for my business." She is requesting a 2,700,000 MNT loan to purchase meat, milk and grocery items 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.