Zultsetseg is 31 years old and lives with her husband and two children, aged 9 and 12, in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house in the outer ger (traditional Mongolian housing tent) districts.
She sells hats at Narantuul, the largest outdoor market in Mongolia. Her husband works as a driver and also in the used clothing wholesale aftermarket.
Usually, it is very difficult to obtain a rental contract with Narantuul because the stalls are in such high demand. When Zultsetseg first began her business, she rented a stall at Narantuul from another person who had a rental contract with Narantuul. This was an unstable business situation for her because the middleman could dismiss her at any time.
In 2003, however, Zultsetseg had the opportunity to sign a rental contract directly with Narantuul in order to make her business more stable. Now her working capital is almost 4 million MNT, and she sells hats.
For the past 11 years, Zultsetseg and her husband have been successfully improving their living conditions gradually. For example, they bought a used microbus with 3,500,000 MN of their business earnings in 2005.
With this loan of 1,300,000 MNT, Zultsetseg will purchase more hats from Ereen City, China. Zultsetseg wants to use this loan to help support her in this very busy shopping season of the year.
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.