Narantsetseg is 57 years old, and lives with her husband in Uvurhangai province of Mongolia. She has been running a small meat retailing business since 2000 with help from her husband. She purchases fresh and qualified meats from her trusted suppliers and delivers them to her regular customers. Now that Mongolia's biggest festival is approaching, she plans to purchase large quantities of fresh meats and sell them to the customers. She says that if it works well, she could afford a van for the business to ride and deliver the meats, which decreases her transport costs. She is requesting 3,000,000 MNT to purchase meat from herders.
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.