Borrower Tserenchimed is a 32-year-old single lady who lives with her younger sister and mother in a ger, a traditional felt tent, which is located in the area of the city that lacks basic infrastructure.
Tserenchimed specialized as a maths teacher in 2004. Her mother is retired, while her sister is a tailor at a local tailoring factory. Tserenchimed works as a receptionist besides her lessons.
Currently, Tserenchimed is studying again at the Institute of Finance and Economy, and this loan will be used for her tuition fee. Her aim is to finish her Institute studies successfully and to get a good salaried job.
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.