Purevsuren M. is 39, married and the mother of three. All her children are attending a local elementary school. Her family lives in a 'ger’ (traditional nomadic tent) district in Arhanghay, one of Mongolia’s central provinces. Together with her husband, she has been running a small cafe since 2002. Her cafe is located in the center of the province and meals are sold at a cheap price. One meal is around $2 USD because local residents cannot spend a lot to eat out. However, she has many repeat clients. Besides running a cafe, she also runs a retail business selling meat. She buys whole animals from the local herders at a wholesale price and cuts them up to resell. Purevsuren is a warm and friendly person who is well respected. She requests a loan to purchase more food products and beverages for her cafe and whole animals to sell the meat. She says "from now on, I will start saving for my two eldest children's future university tuition."
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.