A loan of $1,375 helped to purchase more products from China.

Sangi's story

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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