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Purevsuren

Update on Purevsuren

Mrs. Purevsuren is 43 years old and lives with her two children in a ger in the Uvurhangai province of Mongolia. Her children are secondary school students. Since 1998, Mrs. Purevsuren has had her own organic dairy product business on the second floor of the central local market of Uvurhangai province. Her working capital was 200,000 MNT. She is well-experienced in the sector. She is asking for 800,000 MNT to purchase organic milk and organic dairy products for her business. Mrs. Purevsuren's goal is to grow and expand her business.

Previous Loan Details

Purevsuren is a single mom who has a two kids and lives in ger, (a traditional Mongolian yurt) in the Uvurhangai province of Mongolia. Her two kids go to school. She started her dairy retail business in 1998 by renting a counter in a local market. She has many regular customers and many guarantee... More from Purevsuren's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Purevsuren to purchase organic milk and organic dairy products for her business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2012
Listed
Sep 14, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013
This photo was used before for a previous loan for Purevsuren. It was first posted on Kiva on Oct, 2011. Learn More