Narantsetseg is 49 years old and lives with her husband and four kids in a ger (a Mongolian yurt) in Uvs province, Mongolia. Her husband is a cab driver, her elder two kids are college students and her younger two are in school.
She started her fruit retailing business in 2007 by renting a counter in the market. Now that she has run a business quite a while, she wants to expand her business by selling vegetables. She is a strong and hardworking woman who says, "Now that my kids are grown, they need my support more than anything now. In order to support them I will do everything I can."
She is requesting 2,000,000 Mongolian tugriks (MNT) to buy apples at a wholesale price.
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.