Narantsetseg is 38 years old and lives with her husband and four kids in a 'ger' (Mongolian yurt) in Hovd province. Her husband works at a construction site, her elder three kids are school students and the youngest one is a kindergarden student.
Narantsetseg started her sewing business in 2004. She sews custom garments mostly traditional clothes. She is well known for her sewing skills around the neighborhood. Now that her product demand is increasing, she needs to buy more raw materials and more efficient sewing equipment. She is a talented diligent woman who is requesting 900,000 MNT in order to improve 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.