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Sandagsuren is 60 years old and lives with his wife and his five sons in an apartment in the Hentii province of Mongolia. His wife, Uranchimeg, helps her husband to run their organic vegetable growing and sales business on their plot of land. His oldest son, Myagmardorj, age 24, has graduated university as an IT engineer. Odbayar, age 22, and Od-Orgil, age 20, are university students, and Gantulga, age 17, and Batbileg, age 16, are secondary school students.

He has been running his organic vegetable growing and sales business since 1992. His wife and their sons help them during their summer vacation.

His oldest son is now planning to start his own computer service business in town. Sandagsuren is now requesting 4,000,000,MNT to purchase starting inventory for his son's business. He and his family members are all hardworking and optimistic people.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,900 helped Sandagsuren to purchase starting inventory for his son's new computer service business.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Dec 18, 2012
Jan 17, 2013
Currency Exchange Loss:
Jun 6, 2013