Founded in 1998, XacBank is a community development bank and microfinance institution in Mongolia, headquartered in Ulaanbaatar. It currently serves approximately 16,000 clients from 76 branches in all 21 aymags (provinces) in Mongolia, making it the largest microfinance institution in the country.
XacBank's mission is to contribute to sustainable development of Mongolia that can only come from educated and skilled people and competitive and dynamic businesses concerned equally about planet, people, and profit. The bank provides equitable access to transparent, reliable and responsive banking products and services to the bank’s clients, including its traditional micro-entrepreneurs as well as small and medium businesses.
Your loan enables XacBank to expand its microloan capacity and return a portion of the interest back to the borrower at the end of the loan term.
To learn more, please visit the XacBank website at: www.xacbank.mn.
About XacBankThis 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.
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