Purevsuren is a 59-year-old woman who lives with her husband and three children in Govi-Altai province in Southern Mongolia. Her husband is specialist of NSO, and her daughters study at a college. Her youngest, a son, studies at the local secondary school. She has been running a garment retail business since 2005. The business has been successful and profitable. She has many regular customers in the town who are happy to purchase their clothes from her.
Purevsuren is a diligent woman who says, "I would like to expand the business activity by buying supplies wholesale to increase the range of goods I offer." The total amount she is requesting is 3,000,000 MNT to buy more garments.
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.