Altankhuyag is 24 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. His family lives in a small house. Both he and his wife support their life by operating a beauty salon business.
With this loan of 2,600,000 MNT, Altankhuyag will purchase beautician equipment which can remove freckles and tattoos and clean facial skin. The loan will hopefully allow him to expand his service offerings and give higher quality services with better equipment than he currently owns. The salon’s extra earnings will go towards his family’s expenses and reaching his family’s goal of being secure in their living condition.
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.