Narantsetseg G. is 32 years old and lives with her husband and two daughters in Ulaanabaatar, the capital city of Mongolia. She and her family live in a 'ger', a traditional Mongolian housing tent in a rented yard. Her older daughter, Enhtuya, attends secondary school and her younger daughter is in kindergarten. Her husband operates a taxi service in the local community to supplement the family income.
Narantsetseg manages a vegetable trading business in the market. She has been engaged this business since 2007 in the local market in Ulaanbaatar. She has found success and has built up a stable business operation. For the future, she plans to purchase land with a fence near her children's school and the market where she sells her products. She is a very modest and hard-working woman and is requesting a 500,000 MNT loan to purchase fresh vegetables to sell for profit.
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.