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Narantuya
Narantuya is a 38-year-old woman who lives with her husband and three children in a ger in the Uvs province of Mongolia. Her husband, Ganbaatar, aged 38, provides an intercity transportation service. Her two daughters, Gantuya and Budhishig, are sixteen and nine, and they go to a local school. Her son, Narmandah, aged four, goes to kindergarten. She has been operating a clothes retail business since 2004 in the local market, but this year she has closed her business and stayed for months at home. She is now planning to start a grocery store business at a rented stall in the local food market. She is requesting loan of MNT 3,000,000 to buy a large amount of organic dairy products and other groceries for her new business. She is an open-minded, friendly, and hardworking person.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About XacBank

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.

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Narantuya to buy large amount of organic dairy products and other groceries for her new business.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 6, 2012
Listed
Nov 26, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013