Oyungerel L. is 54, and a micro-entrepreneur. She lives with her daughter in an apartment, inherited from her mother, in Ulaanbaatar, the capital city of Mongolia. As a widow, she works extremely hard to provide for the daily needs of her family.
She graduated from the Institute of Commerce and Business in Mongolia with a concentration in retail in 1977. Until 2004, Oyungerel worked as a retail staffer for several local companies.
Since 2005, Oyungerel has supported her family by operating a jewelry retail stall at Narantuul, the largest outdoor market in Mongolia. She began her business by distributing silver rings, necklaces, earrings and bracelets to local customers. Now her working capital is about 1.5 million MNT and its turnover is twice a month. She purchases her products from a Turkish jewelry wholesale supplier.
Her moderate revenue supports her standard of living, though she would like to buy her own indoor jewelry store because the outdoor stall is difficult to work at due to weather conditions. She is requesting a 500,000 MNT loan to invest in working capital before the Mongolian Lunar New Year holiday. She believes that this loan and future loans will help her achieve her goal.
Oyungerel’s biggest dream is to see her daughter to be successful in life and to help provide that opportunity.
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.