Munkhjargal is a 27-year-old young entrepreneur who lives with her mother in the outer "ger" district, a district without basic infrastructure in Ulaanbaatar city, Mongolia. Her mother is retired, so she stays at home while Munkhjargal supports her family by operating a business selling accessories and cosmetic products. She has been doing this for the last four years.
Now she has 4.5 million MNT (Mongolian Tugriks) in working capital. Besides operating her small business, she studied at local medical institute. She said about her business: “To sell cosmetic products and accessories is very important in winter, spring and autumn, because there will be a lot of traditional and international holidays.”
So she is requesting a 1,500,000 MNT loan to purchase more products for the upcoming season. Her goal is to improve her business as well as to make a better living condition for her mother.
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.