Batkhuu is 42-year-old widow who lives with her son and daughter, ages 23 and 24, in Ulaanbaatar, the capital city of Mongolia. They live in a small house in the outer ger (traditional Mongolian tent) district. Batkhuu’s son is a web designer and her daughter works as a teacher at a local public school. Batkhuu supports her family by operating a retail clothing stall at Narantuul, the largest outdoor market in Mongolia.
When she first began her business in 2003, Batkhuu had 800,000 MNT in working capital. Today, her business has grown and she has about 2,000,000 MNT in working capital. Batkhuu sells jeans and trousers. She says “I want to grow my business with this loan and I would like to be able to buy my own apartment in future.” Batkhuu is requesting a loan of 1,000,000 MNT to increase the variety of jeans and trousers she sells.
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.