Turmunkh is a 27-year-old single guy who lives in a small house in an outer ger (Mongolian housing tents) district without basic infrastructure. He lives with his 50-year-old father and mother. He is a well-educated young man, and he operates his own small business. The family lives in Ulaanbaatar city, Mongolia.
In 2008, he started his wood-sawing business at Gandan, the very religious part of the city. He has one big Russian saw and with this tool, he made money. Also, he hired two guys to support him. In the winter season, his business becomes more popular and he needs more oil for his saw.
He is requesting a 2,700,000 MNT (Mongolian Tugriks) loan to purchase oil for his saw and prepay his two employees. Furthermore, his long-term aim is to improve his business and live happily with his mom and dad.
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.