Narangerel is 47 years old and lives with her two children in a ger, a Mongolian yurt, in the Suhbaatar province of Mongolia. Her older son works in a private company and her younger one is a student. She manages a meat trading business at a rented stall at a trading center. She started her business in 2001 and is planning to continue her business in the future. She bought 10 sheep to sell this coming fall. She is an honest woman who says, "I want my older son to have valid education." She is requesting a 1,200,000 MNT loan to purchase more sheep to increase her business sales.
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.