Mrs. Narantsetseg is 41 years old and lives with her husband and two sons in an apartment in Hentii province of Mongolia. Her husband Enh-Olzii, age 42, works at a mining company. Her sons Suhbat, age 17, and Suhbold, age 8, go to local schools.
The borrower has been running her traditional boot-making business for seven years. She has gained lot of experience and regular customers over the years, and she is now requesting a loan of 2,000,000 MNT to purchase a large amount of leather and organic felt to produce traditional boots to sell to her customers. She is hardworking, welcoming and a friendly 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.