Purevsuren is 48 years old and lives with his wife and son in a ger (a Mongolian yurt) in the Uvurhangai province of Mongolia. His son, who is 20 years old, goes to college. Purevsuren manages a meat trading business in a rented stall at a trading center called Zanabazar. He started his business in 2001 and is planning to expand it in the future. He collects meat and meat products from herders and sells them at his stall. He also operates a taxi service in order to supplement to his income. He is a hardworking man who says, "I want my son to be educated and to be a better person." He is requesting a 3,500,000 MNT loan to purchase meat for his 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.