Purevdorj is 46 years old and lives with his wife and three children in Uvurhangai province, Mongolia. He and his family live together in a ger, the Mongolian nomadic tent. Two of his children, ages 15 and 13, attend a local secondary school. His eldest child, Ganchodor, will graduate from high school in 2010.
Purevdorj operates two businesses. During the summer, he sells souvenirs with his wife near local monuments. They have been selling souvenirs since 2003. The province they live in is a center of tourism in Mongolia, which is a great advantage to their business. During the winter, Purevdorj works as a solderer and electrician. Purevdorj is certified as an electrician, and has worked as a plumber at a local generator plant for many years (1981-2000). He is an industrious person who has a great business mind. His family is the most important thing for him and he says, “As a father, I would like to be financially available to provide a good education and other necessary expenses for my children until they grow up.” He is requesting a loan to purchase souvenirs and religious articles in the Chinese border cities of Ereen and Beejin.
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.