Otgon is 39 years old and lives with her mother, husband, and two daughters in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house in the outer district of the city. Her older daughter attends primary school. Her younger daughter is 3 years old and stays at home with Otgon's mother.
She started a retail clothing business in 1996, selling handmade custom jackets. Since 2000, she has been selling clothing imported from China, as well as her handmade clothes. Her business is located in a rented stall in Narantuul, the largest outdoor market in Mongolia. Since she started her business, she has expanded so that she is now operating two stalls at the market, also selling underclothing, hats, etc. Otgon is now running her business with 5,700,000 MNT (Mongolian Tugriks) of working capital and planning to expand her business by establishing her own tailoring boutique.
She is requesting a 1,500,000 MNT loan to purchase more clothes for the fall/autumn season. She is an accomplished entrepreneur who is very thankful to all Kiva lenders for giving her an opportunity to expand her business.
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.