Byambatsogt, age 40, lives with his wife and 11-year-old daughter in his friend’s small house, in the ger district of Ulaanbaatar, the capital city of Mongolia. His wife, Amartsetseg, helps him run the business, and his daughter attends a local public school.
Byambatsogt supports his family by operating a glasses and phone accessories retail stall at Bayangol market, one of the Mongolia's biggest markets. When he first began his business in 2006, he had 1,000,000 MNT in working capital. Now he has a working capital of 3,000,000 MNT and is willing to increase it in the future. He bought a used car with his business earnings in 2010.
He has been successfully expanding his business and was able to improve his living conditions gradually. He said, "I want to grow my business with this loan. I would like to be able to buy my own house and yard in the future." In order to increase his glasses and phone accessories variety for his customers, Byambatsogt is requesting a 2,400,000 MNT loan.
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.