Purevdagva Gandiimaa

Gandiimaa is 50 years old and lives with her husband and two youngest children in the Uvurhangai province of Mongolia. The family lives in a ger, a traditional Mongolian nomadic tent. Her oldest son lives and works in Korea and the younger two sons both attend university. Gandiimaa’s husband is a carpenter who makes a variety of wooden products and she operates a grocery business in town.

Gandiimaa began her general store business in 1990 with working capital of 10,000 tugrugs (~7 USD). After years of hard work and diligence, she has managed to increase her working capital to 150,000 tugrugs (~105 USD). She says, “All I want is to help my children lead happy lives.”

Gandiimaa is requesting an 800,000 tugrug loan in order to purchase goods for her business and wood for her husband’s business.

About XacBank:

XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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