Mr. Purevjav is 24 years old and lives with his wife, daughter and two sisters-in-law in Ulaanbaatar, the capital city of Mongolia. Since his family does not have their own housing yet, they live together in his sisters-in-law's apartment. His daughter is 1 year old and stays at home with his wife's younger sister. His wife works in the marketing department of a local company.
Previously, Mr. Purevjav worked at a wood factory in Khentii province before he moved to Ulaanbaatar. In 2008, he moved to Ulaanbaatar and began his small mobile phone retail business with only 2 million MNT, when the Tedy-3, a mobile phone market, was established. At his stall, he sells mobile phones to local residents. Today, his working capital has increased to 6 million MNT.
Mr. Purevjav is naturally hardworking and known to be friendly to his customers. Compared to the other stalls around him at the market, Mr. Purevjav's mobile phones are better quality. He also sells a wider variety of mobile phone model choices.
He has been successfully expanding his business and was able to improve his living condition gradually. He said, "I want to grow my business with this loan. I would like to be able to buy my own house in the future." In order to increase his mobile phone variety for his customers, Mr. Purevjav is requesting a 1,500,000 MNT loan.
Transcapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.