Olonbayar is a 47-year-old married man with two daughters aged 23 and 25. He lives with his wife in a ger (a traditional Mongolian felt tent) in the outer ger districts of Ulaanbaatar, the capital city of Mongolia. His wife is a primary school teacher at a local school in the area.
He used to work as a schoolteacher in the province of Bayankhongor but had stopped after he moved to Ulaanbaatar in 2006. Since then, he has been running a public transportation business using a minivan, based on a leasing contract. He has permission to carry passengers on one of the city’s remote bus lanes which lacks bus services. With the business profits, he repaid the leasing contract and managed to make the minivan his own.
Olonbayar is requesting a 1,400,000 MNT loan to purchase a new engine for his vehicle. He and his wife desire to build their own small house to have better living conditions. He is a highly educated, responsible and experienced man who is very thankful for the institution and the support it has offered him.
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.