Otgonbaatar is 24 years old and lives with his wife in Ulaanbaatar, the capital city of Mongolia. His family lives in his in-laws’ small house, in the outer ger districts of the city. His wife studied at university with a concentration in tourism.
Otgonbaatar has been supporting his family by operating a taxi business for the past three years. In 2008, he started his taxi business using a car which he bought on a leasing contract from another person. He repaid the leasing contract over 16 months. During the past three years, he has been able to gradually improve his living conditions and has gained a lot of experience. He is planning to sell his old car and purchase another secondhand car, due to safety regulations for transportation. He is requesting a 2,750,000 MNT loan to purchase the secondhand car. His goal is to improve his living conditions by buying an apartment, and then he wants to have children and a happy life with his family.
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.