Munkh-Erdene is a 35-year-old entrepreneur who supports his family by operating a fuel/firewood selling business at the largest outdoor wood market in Ulaanbaatar city, Mongolia. He lives with his wife in the outer ger district without the basic infrastructure of the city.
Munkh-Erdene’s wife helps to him operate his business. Both of them are very experienced in this business. In winter Mongolia is very cold and that kind of business is becoming popular, so they want to purchase more fuel/firewood to sell.
Currently, Munkh-Erdene has an old small truck, but that truck's capacity is too small, so he needs a new one. With this 3,000,000 MNT (Mongolian Tugriks) loan, he wants to buy a truck to carry his fuel/firewood.
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.