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Purevhuu
Purevhuu is a 38-year-old man who lives with his wife and 2 children in the capital city of Mongolia. His wife is unemployed and takes care of their 2-year-old son. The oldest child goes to kindergarten.

Purevhuu started a freight transportation business more than 10 years ago. He has experience in the field and plans to further expand the business activity and increase the volume. This is the only income source for him and his family. In order to keep the business, he needs to replace the wheels of the truck. The wheels have been broken down and so far, his family is in a tough financial situation. Purevhuu is a responsible man for what he is doing and says that "I would like to replace the wheels in order to keep it normal and develop the activities in the coming years." The total amount he is requesting is 3,000,000 MNT to replace the wheels.

Additional Information

About XacBank

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.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Purevhuu to replace the wheels on his truck.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 20, 2012
Listed
Apr 16, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012