Narangerel is 37 and widowed with two daughters. She lives with her family in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a Mongolian nomadic housing tent. Narangerel’s oldest daughter attends a local secondary school and her youngest daughter is a year old. On days that she works, Narangerel leaves her youngest child at her partner’s home. She is responsible for taking care of her daughters.
In 1992, Narangerel began operating a hair salon in Bulgan province. In 2007, she moved to Ulaanbaatar and began operating a hair salon in the center of the city. Narangerel is an experienced hairdresser who has been operating a hair salon for more than 12 years. She is popular in her area and has many regular customers.
Narangerel is a responsible and honest person who cares about her children’s future. She is requesting a loan of 1,000,000 MNT to pay three months rent at her hair salon which will enable her to secure her workplace.
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.