Purevtsend is a 40-year-old, married woman who lives with her husband and two children in the Bayanhoshuu district of Ulaanbaatar, a capital of Mongolia. They live in their own house on the outskirts of the city. Her husband is employed and her son attends college, while her daughter attends a local secondary school.
In 2004, Purevtsend began her used clothing trading business. She operates a rented stall at Narantuul, the biggest outdoor market in Mongolia. She is a hardworking person who says, "I work hard in order to save some money to afford my children's further studies." She is requesting a loan of 400,000 MNT to purchase more used-clothing to trade.
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.