Otgonsuren is 41 years old and lives with her family in a ger, a traditional Mongolian felt tent. She lives in the outer ger district of Ulaanbaatar, Mongolia, where there is no basic infrastructure. Her son attends university and her daughter is a high school student. Otgonsuren’s spouse is a firefighter at a local company.
Since 2007, she has supported her family by operating an electric rod retail business with the help of her husband. She sells various kinds of electric rods and electric torch wraps that she purchases from other wholesale suppliers. The business is very popular year round, so she always needs more products and to increase her working capital.
Otgonsuren is requesting a 3.000.000 Mongolian Tugriks (MNT) loan to purchase more products and improve her business. “Furthermore, I want to increase my working capital and expand my business as well. Also by business income, I really want to make some changes in my family’s living condition” she said.
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.