Borrower Tumenbayar is a 43-year-old widow who has two daughters and lives in Ulaanbaatar, the capital of Mongolia. She has higher education in both accounting and nutrition technology. Her younger daughter attends the Royal academy in Mongolia, while her elder daughter helps her to operate the business.
Regardless of her profession, she had six years of experience in her own grocery and home furnishing store, until she went to South Korea for a higher paying job for five years. After she came back from S. Korea in 2010, she continued her small grocery store business.
Tumenbayar is requesting a 2,000,000 MNT (Mongolian Tugriks) loan to buy more merchandise for the grocery store. Her goal is to improve her business in order to increase her working capital and expand her business as well.
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.