Bayasgalan is 33 years old, married and has 3 children, ages 3 to 11. They live in a ger, a traditional Mongolian tent, in Ulaanbaatar, the capital city of Mongolia. Her husband works as a welder in a local electrical shop. Her oldest daughter and oldest son attend primary school and her youngest daughter lives with Bayasgalan’s mother-in-law at her mother-in-law’s home. Bayasgalan graduated as a nurse from the Health Sciences University of Ulaanbaatar in 1997.
Bayasgalan supports her family by operating her two clothing retail stalls at Narantuul, the largest outdoor market in Mongolia. When she first began her business in 2000, Bayasgalan sold her handmade clothing to customers at home. Her business has grown, and she began to operate her handmade clothing retail stall at Narantuul market in 2005. Her working capital increased and she expanded her stall in 2010. Now she has 2 million Mongolian tugriks (MNT) in working capital at her two clothing stalls, and 800,000 MNT in sewing equipment.
Bayasgalan sells clothes imported from Ereen as well as her own handmade clothes. She always research new models and the weather, and tries to sew modest and quality clothing. She is planning to sew many coats for spring during the Mongolian Lunar New Year’s holidays because she will have 15 days off from her clothing stall business during this break. She is requesting a 800,000 MNT loan to purchase clothing materials to make these coats.
Bayasgalan wants to expand her business with this loan investment, and be able to build her own house.
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.