Borrower Munkhbat is a married 32-year-old man who lives in outer ger district which lacks basic infrastructure of the Ulaanbaatar city of Mongolia. He lives with his wife and two sons. Both of them attend secondary school.
He had worked as a serviceman and decided to start his own business with his spouse. He started his clothing stall business at one of the largest indoor markets located in outer ger district last March. Now he has about 4 million Mongolian tögrög (MNT) in working capital.
He really wants to increase his working capital and improve his business since his business income is the only income in his family. He is requesting a 3.000.000 MNT loan to purchase more clothes to sell in his small stall ad increase his working capital.
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.