Banzragch is 33 years old and lives with his mother, wife, and his four children, ages 2 to 15, in Ulaanbaatar, the capital city of Mongolia. His family lives in his mother’s small house, in the outer ger districts of the city. His oldest son and daughter attend school, while his mother is retired and always cares for his youngest son and daughter, ages 2 and 4. His wife is an entrepreneur, and she supports her family by operating her fruit retail stall at Kharhorin, one of Mongolia's largest markets.
Banzragch has been supporting his family by operating a taxi business for the past two years. In 2009, he started his taxi business using a car that he bought used. So his first car often broke down. During the past two 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 3,500,000-MNT loan to purchase the secondhand car.
His goal is to improve his living conditions by building his own small house, and then he wants 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.