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Narantuya, age 48, lives with her four children in a ger in the Khan-Uul district of Ulaanbaatar city. She used to operate a small food store next to her house. Currently, Narantuya works in the City Water Department as a field provider. She is starting to produce and sell felt slippers for both children and adults at home in her free time.

She is requesting a 1,200,000MNT loan to purchase inventory for her newly starting business, as felt slipper sales are seasonal and high season is coming. Her children help her business. Her three children are secondary students. Her older son works in a construction company and her older daughter works as chef in small cafe. She and her children are friendly, helpful, confident and hard-working people.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

About XacBank

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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Narantuya to purchase inventory for her newly starting business, making and selling slippers for children and adults.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 21, 2012
Oct 16, 2012
Currency Exchange Loss:
May 20, 2013