Biibaatar is a 34-year-old bright man. He is married and has a two-year-old son who attends kindergarten. His family lives in a small house in a suburb of Ulaanbaatar, the capital city of Mongolia. He has been working in clothing sales for over 10 years. His wife helps support the family by running the business together at Narantuul, the largest outdoor market of Mongolia.
He started the business in 2001 with two stalls at Narantuul, with working capital of 500,000 MNT (Mongolian Tugriks). He sells children’s clothing imported from Ereen, a border city of China. As a result of his hard work, he managed to acquire two more stalls in 2005, which he had been renting over the past few years. Meanwhile his wife was raising their child; two stalls were operated by him and the other two by a salesperson. Today, his working capital is around 9,000,000 MNT. Moreover, he managed to build a new small house in 2008 with the business profits.
Biibaatar is requesting a loan of 3,700,000 MNT to purchase more merchandise to increase the business. He also wants to expand the business in another indoor market called Dunjingaraw. He wishes to move into an apartment where his family can enjoy better living conditions.
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.