Mrs.Narantsetseg is 49 years old and lives with her husband, 3 children and her nephew in a ger in the Govi-Altai province of Mongolia. Her husband Monhtuul works at coal mining company. Her children Nandintsetseg, age 15, Monh-Erdene,age 12, Gantomor, age 9 and nephew Baljinnyam, age 7 all study at local schools. Narantsetseg has been running a carpet cleaning business with 2 partners in town since 2008. Since lunar New Year is coming, which is the highest season for her business, and she is now requesting 1'000'000MNT to purchase one more carpet cleaner to boost sales. She is a hardworking, optimistic and diligent woman.
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.