Sharavdovchin, age 41, runs a public transportation business in Ulaanbaatar, the capital city of Mongolia. After working for a public transportation company for twenty years, he decided to start a business by himself, using his own minivan. He has permission to carry passengers on one of the city’s remote bus lanes, which lacks bus services.
Sharavdochin is requesting a 2,000,000 MNT (Mongolian Tugriks) loan to purchase necessary tools and parts to renovate his minivan. A portion of the loan is also going toward the development of his business. He says that he is working hard to be able to afford to buy another minivan, which would help develop his business to a great extent.
His children – aged 8, 15, and 17 – attend public school, while his wife works in the book section of a department store. Recently, Sharavdovchin’s family moved into a small house which he built using his past savings. He aims to increase his family income by expanding his business in the future.
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.