Mrs. Nasanjargal is 47 years old and lives alone in a ger, a traditional nomadic yurt, in Gurvan-Tes soum of Umnugovi province, Mongolia. Her only son is married and lives separately.
Nasanjargal has been working at a local mining company as a chef and during her time off she runs a small grocery store to increase her income. The company she works for is located a little bit far from soum center and the company staff and some residents live there and her store is the only small store in the area. She covers her expenses and also supports her son and his family. She is a hardworking, welcoming and open person who is now requesting a loan of 2,000,000 MNT to purchase inventories for her store and serve local residents.
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.