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Purevsuren
Purevsuren D. is a 45-year-old single mother of two children. She currently lives with her 14-year-old son in Hovd province, one of Mongolia's central provinces. Her oldest daughter is 19 years old and is a student in the National University of Mongolia in Ulaanbaatar, the capital city of Mongolia.


Purevsuren has been running a small meat retail stall in the local food market for the last nine years. She usually purchases mutton and beef at wholesale prices and sells in small pieces to local customers. She says that she is very experienced in the business and has her own loyal customers who always purchase their meat supply from her.


The business has been stabilized and she further notes that she is still working hard to make sure that she will be able to make enough money to pay her daughter's tuition.


She requests a loan to purchase more meat for her business.





About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest micro-finance 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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Additional Information

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Purevsuren to purchase more meat for her business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 17, 2009
Listed
Nov 23, 2009
Currency Exchange Loss:
Possible
Ended:
Jun 24, 2011