Purevdulam D. is 30 years old and lives with her husband and two daughters in their own house in the Songinohairhan district of Ulaanbaatar, the capital of Mongolia. Her older daughter attends kindergarten and her youngest daughter stays at home. Purevdulam makes a living operating a coal and firewood trading business, and does her selling the local market. She has been in this business since 2002 and has gained a lot of experience from her work. In the future, she plans to start her own coal and firewood trading market. Purevdulam is a modest and honest person who is applying for a loan for 2,000,000 MNT to buy more coal and firewood to sell during the upcoming winter months, when prices are high.
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.