Client Success Stories 1: Ulziitogtokh Odsuren

Our client Ulziitogtokh Odsuren is a dedicated and resilient 48-year-old businesswoman who takes on the responsibility of being the sole provider for her family. Her husband, Sodnomdarjaa, is unable to work due to a physical disability. The couple has their three children. Their oldest son Buyanbadrakh is a sophomore student at the Mongolian University of Science and Technology (MUST), their 16-year-old second son the 10-year-old daughter are pupils.

With the aim of securing family’s future, Ulziitogtokh rented a small room in 2015 and established a daycare center called “Genius”. As the business grew, the number of children attending the center also increased. However, Ulziitogtokh soon realized that her monthly net profit of 1 million MNT would not be enough to cover the needs of her family, including her children’s tuition fees and other expenses.

With the onset of the COVID-19 pandemic in 2020, Ulziitogtokh had to bear the burden of paying rent and electricity bills for over a year while her business remained closed. When she resumed operations in September 2021, she realized that relying on a single business line was not a sustainable option to support her family.

Ulziitogtokh’s love for sewing developed during her childhood, as she learned the craft from her mother. She later decided to turn her passion into a business, creating traditional Mongolian costumes known as “deel”, using her mother’s manual sewing machine. Starting out small, she worked tirelessly in a traditional Mongolian dwelling known as a “ger”. As her business began to flourish, Ulziitogtokh recognized the need for more funding to expand her capacity, which would require purchasing a quality sewing machine, equipment, and materials. Unfortunately, obtaining a bank loan was not feasible due to the stringent requirements for collateral property and tax records that she could not meet.

So, Ulziitogtokh actively looked for opportunities and participated in a Micro Business Simulation Game training within EBRD’s Central Asian Women in Business Programme that was organized by VisionFund NBFI in collaboration with World Vision. During the training she gained numerous valuable insights, including how to monitor income, expenses, and profits, which she could then put into practice in her own businesses.

Ulziitogtokh became more familiar with VisionFund NBFI during the training and decided to apply for a loan. Her loan application was approved and just before the Mongolian Lunar New Year (Tsagaan sar), Ulziitogtokh received a loan of 2 million MNT from VisionFund NBFI, which she later increased to 5 million MNT. Using the loan, she purchased necessary equipment and materials such as an embroidery machine, sewing machine, silk, blanket products, inner fabrics, and other materials. “Many thanks to the loan officer who provided friendly and efficient assistance in the application process”, she said.

Applying the knowledge she gained from the Micro Business Game training, Ulziitogtokh joyfully reported that her business started to be profitable, and she is now even able to save money. Thus, she could invest in her eldest son’s university education, pay for her middle son’s dream volleyball club, and her daughter’s English language course.

During our conversation, it became clear that Ulziitogtokh has ambitious dreams and aspirations. She shared her vision of establishing her own sewing workshop and expanding its reach beyond Mongolia to serve other markets.

Ulziitogtokh believes that pursuing a business in an area of personal passion and exhibiting persistence and courage are critical factors for achieving success.

Women who are economically empowered play an important role in improving the well-being, health, and education of their children. We are incredibly proud of our hardworking client. The achievement and success of our client embodies the mission of VisionFund: “Life in all its fullness – also for every child”.