Gunchin-Ish is 44 years old and lives with her husband and two daughters, aged 21 and 24, in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house, in the outer ger (traditional Mongolian felt tent) districts. She sells her handmade hats at Narantuul, the largest outdoor market in Mongolia. Gunchin-Ish sews her products with help of her daughters and she sells her handmade hats with help of her husband.
When they first began their business in 1997, the family made handmade hats at home and sold them at another person’s stall. Now they have about 3,000,000 Mongolian Tugriks (MNT) in working capital at their stall. Gunchin-Ish said “We usually try to make modern hats for our consumers.”
In order to increase their variety of handmade hats, Gunchin-Ish is requesting a loan of 2,000,000 MNT. In the future, she wants to expand her business with this loan and to be able to build their own hat factory.
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.