Narantsetseg, 29, lives with her husband in the Uvurhangai province of Mongolia. They live in a ger, a traditional Mongolian nomadic home tent, in her parents' fence. Her husband operates a taxi service using his own motorcycle. Narantsetseg operates a clothing retail business from a stall at a local clothing market. She started her business in 2004 selling only socks, underwear and children's clothing items. As her sales was not very good, she decided to change her product line by selling a variety of jeans to her customers. She is a very open-minded and sociable woman. For the future, she plans to expand her business. Narantsetseg is requesting a loan of 1,300,000 MNT to purchase more winter clothing items for her business.
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.