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Purevhuu
Purevhuu is a 52-year-old woman who lives with her two children in a ger in the Zavhan province of Mongolia. She is a hardworking and welcoming person. Her daughter, Byamba-Erdene, age 23, helps her mother to run her retail business. Her older son is married and lives apart from them, and her son Lhanaajav, age 20, studies at university.

Purevhuu has been running a retail business selling gum, cigarettes and candy products outside of schools and other crowded places. She is starting a general store at a rental counter of the local market. She is asking for 1,000,000 MNT to purchase inventory for this new general store. She has already found a better rental counter and has spoken with the previous renter.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Purevhuu to purchase inventory for starting a new general store in the local market.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 27, 2012
Listed
Nov 26, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013