Purevsuren is a 40-year-old widowed woman who lives with her three children in Hovd province in Western Mongolia. Two of her children study at the college and the youngest one studies at the high school.
Purevsuren has been running a meat retailing business since 2007. She brings in the supplies and trades them at a well-positioned shop counter. She has been running the business successfully and has many regular customers. This business is the only source of income for Purevsuren and her three children.
Purevsuren is a motivated and hardworking woman who says, "I would like to raise the assets by buying some meat for the business." The total amount of the loan she is requesting is 600,000 MNT. She will use it to buy livestock.
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.