Nyamdavaa is 36 years old and lives with her daughter in Ulaanbaatar, the capital city of Mongolia. Her family does not own their apartment yet, but they have a mortgage loan from another bank in order to eventually own it. She has been on schedule with her mortgage loan payments to date. It is her family’s goal to one day own their apartment.
Nyamdavaa’s husband is working in Korea while her daughter attends a local public school. Nyamdavaa supports her family by operating a clothing retail stall at Narantuul, the largest outdoor market in Mongolia.
When she first began her business in 2002, she had 2,000,000 Mongolian Tugriks (MNT) in working capital. Today she has 3,000,000 MNT in working capital. She sells jeans and trousers in her stall. With this loan of 1,000,000 MNT, Nyamdavaa will purchase stylish jeans to increase her product variety.
Her family’s goal is to be secure in their own apartment.
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.