Ononbayar is 30 years old and lives with his wife, mother and brother in Mongolia’s capital, Ulaanbaatar. The family lives in a small house, in the outer ger (a traditional Mongolian felt tent) districts of the city. His mother stays at home while his wife works at The Center Library. Ononbayar’s brother works with a local government organization.
Ononbayar helps support his family by operating a hollow-block, small business. When he started in 2010 he was using hollow-block machines bought on a leasing contract from the bank. He repaid the leasing contract over 6 months. Before his hollow block business, he sold firewood and coal at a local outdoor market. Now he sells firewood and coal in winter and, in the other seasons, he manufactures hollow-blocks. With a loan of 3,000,000 Mongolian Tugriks (MNT), he will purchase cement, pebbles and other materials to make hollow-blocks.
Ononbayar wants to expand his business and to buy a block paving machine because there is high demand for block paving.
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.