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Mrs. Narangerel is 35 and lives with her husband and three daughters in a small house in Bulgan province of Mongolia. Her husband, Gantulga, works at a local theater as a musician. Her daughters, Nomin-Erdene and Onon-Erdene, are local school students, and Huslen is 5 and goes to a local kindergarten.

Narangerel has been working as a saleswoman in a local grocery store chain for several years and has a lot of experience in bookkeeping and managing and running the grocery store. She is now planning to start her own business to increase her family income, since her older two daughters soon will be university students and need to cover their education expenses.

She is now requesting a loan of 3,000,000 MNT to purchase equipment and inventory to start her own grocery store business. She is a hardworking, positive and honest woman.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,588.4
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,900 helped Narangerel to purchase equipment and inventory to start her own grocery store business.
57% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Aug 16, 2013
Sep 2, 2013
Currency Exchange Loss: