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Purevhuu is 34 years old and lives with his wife in a ger in the Uvs province of Mongolia. His wife Ariunhand is a teacher at a local school. Purevhuu has been helping his mother to run her clothing retail business in the local market since he was a little kid. He is now starting his own business of sport clothes retail in the local market and requesting 4,000,000 MNT to purchase large amounts of sports clothes from China to sell to local customers. He has regular customers and is well-known for his tasteful and assorted selection of clothing in the local market. He is hardworking and an open-minded man.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $2,800 helped Purevhuu to purchase large amounts of sports clothes from China and sell to local customers.
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 21, 2013
Jun 26, 2013
Currency Exchange Loss:
Jul 26, 2013