Ganbold is a 39-year-old man who has experience in shoe sales business for more than 10 years. He lives with his wife and children in an apartment, in Ulaanbaatar, the capital city of Mongolia. He has a son and daughter, aged 10 and 12, who attend secondary school. Moreover, the family is welcoming a new baby this year.
Ganbold started selling shoes in 2000, with working capital of 500,000 MNT (Mongolian Tugriks) at Narantuul, the largest outdoor market of Mongolia. He could not afford to rent a stall at the beginning. However, he managed to own one after two years of hard work. Selling imported shoes from China helped Ganbold to expand the business and increase his working capital. The business has since developed such that his current working capital is 14,000,000 MNT and he moved from the outdoor market to an indoor market called Sunday Plaza.
Ganbold is requesting a loan of 3,000,000 MNT to import more merchandise since he is running two stalls at Sunday Plaza.
Ganbold achieved true success over the past few years as a result of full dedication and hard work to his business. He wishes to ride in a nice car and improve the living conditions in his apartment where his family can enjoy better living.
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.