Ms. Byambasuren is a 54-year-old widow who has one daughter. She lives with her daughter and two grandchildren in a ger, a traditional Mongolian felt tent, in an outer district of Ulaanbaatar, Mongolia. Her elder grandson attends a local secondary school.
She operated a used shoe stall business at the second largest outdoor market in the city. Now, with the help of her daughter, she operates a shoe sale business at a local indoor market. With this loan, she will increase her working capital in order to purchase more shoes to sell.
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.