Nasandelger is 42 years old and lives with her father and two children in a house in Arhangai province of Mongolia. Her daughter, 21, attends university and her son, 17, attends a local secondary school.
Nasandelger makes and sells wooden products. She began her business in 2003 with 150,000 tugrugs (~105 USD) of working capital. Her business succeeded and her working capital now exceeds 1,496,000 tugrugs (~10500 USD). She has gained business experience and advanced carpentry skills.
Nasandelger's customers know that she makes quality, beautiful products and that Nasandelger is trustworthy and conscientious. She says, “I want to expand my business and own my own workshop for the future.” Nasandelger is requesting an 800,000 tugrug (~560 USD) loan to purchase more wood for her business so she can keep it growing.
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.