Purevtseren T. is 47 years old and lives with his wife and three children in Huvsgul province, Mongolia. They live together in a ger, which is a traditional Mongolian nomadic tent. His oldest two children attend school while Purevtseren operates a gold and silver crafts business in his town.
He is a dexterous craftsman who received all his skills from his elders. He designs and produces a variety of jewelry and accessories using his father's equipment and tools. He has been engaged in this business for 8 years and has built a stable operation. For the future, he plans to have his own workplace next to his home.
Purevtseren is a modest man who is requesting a 2,000,000 MNT loan to purchase his mould and supplies from Erlian, a border city in China, for his jewelery making business.
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.