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Mr. Khishigbayar, 35 years old, lives with his wife and four children in Darkhan, the second largest city in Mongolia. Khishigbayar’s family used to live in Khovd, the most remote western province of Mongolia, and in 2006 they moved to Darkhan in search of a better life. When they settled down in Darkhan, they bought a small family house, but it was burnt down accidentally, bringing a big loss to the family. Mr. Khishigbayar has managed to build a new house, thanks to his business and hard work.

In 2000, Khishigbayar and his wife started a shoemaking business and have since accumulated huge experience in making traditional Mongolian handmade shoes. These shoes are very popular in Mongolia and they are very comfortable and warm in winter time. Currently, they use their family house as a workshop. Since the business is expanding and the children are growing, this is becoming a big problem for them. Therefore, they are planning to add an extension to the house and use it as a workshop in the future. Mr. Khishigbayar and his wife are very hardworking people with much motivation and set goals to expand their business and to provide their children with a good education. At the moment, they want to buy a dust remover for the workshop and another sewing machine which will help them increase the varieties of shoes they make.

Additional Information

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,246.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,900 helped Khishigbayar to buy a dust remover for the workshop and another sewing machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 16, 2010
Feb 1, 2011
Currency Exchange Loss:
Jun 15, 2012