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Sangi
Sangi S. is 35 years old and lives with his wife and two children in a house in Bayanhongor province, Mongolia. His son is thirteen years old and attends a local secondary school, and his four-year-old daughter will soon start kindergarten.


Sangi manages a consumer goods trading business in his town with the help of his wife. He sells a wide variety of consumer and household goods which are imported from China. S. started his business in 1998 and has built a consistent operation over the years. He has developed a loyal base of customers and works hard to adapt his business to their needs.


Sangi has used his success to make repairs to his home and improve his family's quality of life. He is focused on the future and says, "I want to move my family into an apartment one day.” He also hopes to purchase a car for them. He is requesting a 2,000,000 tugrug loan to purchase more products from China.

About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest micro-finance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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Additional Information

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,459.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,375 helped Sangi to purchase more products from China.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 25, 2009
Listed
Dec 14, 2009
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2010