Batjargal is a 49-year-old man who lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. He supports his family by running a carpentry business with help from his son. His daughter is a student while his wife works as a teacher at the local public school. His family lives in a small house in the outer ger (nomadic tent) districts of the city.
When Batjargal first began his carpentry business in 1995, he used to rent a workplace to make furniture with 300,000 MNT of working capital. His business has grown since and today he has 6,000,000 MNT of working capital. He makes furniture at his own workplace, which is next to his small house, and he sells them at Narantuul, the largest outdoor market in Mongolia. For the last 16 years, Batjargal has been supporting his family as well as improving their living conditions with his business profits. For the last two years, he built a workplace plus a small house for his son and managed to buy a car for himself. With this loan of 2,000,000 MNT he will purchase more wooden panels to produce more furnishings.
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.