InvesCore NBFI 9

InvesCore NBFI

Компания

Монголия

Държава

Проектът

In Ulaanbaatar, the capital of Mongolia, Davaarjargal runs her own business. Her shop specializes in naturally produced soaps and bath salts. She sources her raw materials from local nomads, for whom this trade also represents an important source of income. Thanks to a loan from InvesCore, a local microfinance institution, she can purchase more of the necessary materials and expand her business. Small and medium-sized entrepreneurs in Mongolia need working capital for their business to grow. A thriving business means higher income, directly improving the lives of the entrepreneur, her suppliers, and employees. The maturity of business loans from InvesCore vary between 24 and 36 months with a monthly repayment of principal and interest. The monthly interest rate varies between 2.2% and 2.9% in Mongolian tugrik.

What does your investment generate?

For entrepreneurs like Davaarjargal, a business loan makes a significant difference. Check the interest rate and maturity InvesCore offers you as an investor at the top of this page. For more information about possible exchange rate risks, visit our currency page.

The story of InvesCore

InvesCore is Mongolia's largest financial institution. With financing via Lendahand, they provide business loans to their current and new customers. The main customers are small and medium-sized enterprises in the capital Ulaanbaatar, such as Davaarjargal's shop or a bakery, and agricultural businesses or farmers in the countryside. To best support the entrepreneurs, InvesCore also offers business training. InvesCore processes the loan applications of their more than 80,000 customers through their internally developed Loan Origination System (LOS). The LOS automation process collects customer information from government systems, saving customers time in gathering the necessary documents. In 2019, InvesCore held an initial public offering (IPO) relating to 15% of the total shares. Since the IPO, the share price has increased by 145%. For the future, the non-banking financial institution plans an international expansion of their activities in Central Asia and Southeast Asia. In 2021, InvesCore launched a special program that allows low-cost financing for more vulnerable customer profiles. The program is funded by Rio Tinto Mongolia LLC. The target groups are:

• SMEs implementing an environmentally-friendly project
• SMEs run by entrepreneur(s) with disabilities
• SMEs run by women entrepreneur(s)
• SMEs run by single parents
• SMEs conducting import substitution activities

InvesCore in numbers

• Founded in 2016
• Loan portfolio of 74 billion MNT (approx. 60 million USD) (end of 2021)
• 18 branches in Mongolia
• 2 subsidiaries in Kyrgyzstan
• 269 employees
• 40% of their cutsomer portfolio are SME entrepreneurs
• More than 80,000 customers

Mission

InvesCore aims to be the most reliable financial partner for their customers by delivering tailored financial products, quick services, and professionalism.

Vision

Support individuals and small and medium-sized businesses in developing countries worldwide with reliable financing.

Awards

• "Best Investor" 2018-2020 - by the Association of Mongolian NBFI
• "Excellence Service Entrepreneur" 2019 - by Forbes
• "Outstanding NBFI" 2018, 2019 en 2021 - by Mongolian Chamber of Commerce