Odongerel is 42 years old and lives alone in Ulaanbaatar, the capital city of Mongolia. She lives in a brick house, in the outer ger housing districts of the city. Odongerel’s two sons live apart from her, but she still supports them. Odongerel believes that if her sons live on their own, they will gain valuable life skills.
In 1996, Odongerel began purchasing Mongolian dairy food products from local herders and reselling them to customers. In 2008, she sold her dairy food equipment in order to purchase a metal container at Narantuul market. In 2009, she began working together with her oldest son to operate a clothing accessories retail business from an outdoor stall and the metal container she owns at Narantuul.
Currently, she doesn't own the outdoor stall's rental contract. She's renting from a middleman and not directly from the Narantuul market. It's her goal to have 2 million MNT of working capital in order to purchase the rental contract from the current owner. Her working capital was 500,000 MNT last year and has now reached 1 million MNT.
With this loan of 1,500,000 MNT, Odongerel will purchase clothing accessories like socks, hats, gloves, and slippers from Ereen City, China. Odongerel hopes to resell these accessories at her stall before the Mongolian Lunar New Year in February. At this time of year, it is the custom to give small gifts to family members and friends. She expects her sales to be very high at this time.
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.