Ulemj Organic LLC 1

With EUR 105,900 Tsogtbuyan will be able to increase the production capacity of his dairy factory. Issuer is the Golomt Bank.

  • Local partner investment
  • 4 new jobs
  • 16 people reached



18 months



Annual interest



6 months

Repayment Interval
Fully funded in 35 days on 27 December 2017.
+ 281 other investors

Read the information document of the issuer here

Part I of II

The owner of the company, Mr. Tsogtbuyan is one of the first professional breeders in the country trained back in 1980’s by the western experts. After socialist system collapsed in 1990, Mongolian state owned factories and farms were all privatized and most of them closed the door, due to poor management. However, Mr. Tsogtbuyan persisted his dream to provide healthy dairies to the consumers and took risk to establish his own farming business in 1992, during the most vulnerable economic period of the country.

What started as a small diary business with only 11 cows now reached to 150 milk cows and increasing demand from the market. The company’s ultimate goal is to fully replace imported dry milk with its own high quality, fresh, liquid milk, since 80% of the domestic dairy factories use imported dry milk for their production, while the country has over 4 million cattle.  

In 2014, Mr. Tsogtbuyan started to produce its organic and tasty dairy products in local market and the products are unique because the company uses its own small farm using the traditional methodology. The livestock of the company’s farm is raised on Mongolian natural pasture and feed by nutrients which were planted organically without any pesticides and fertilizers. All of the products are rich in vitamins, minerals, nutritious and environmentally sustainable. The company believes it can affect consumers’ decision to choose environmentally friendly purchase by using reusable glass bottles for the products.

In December 2016, the company successfully introduced 8 new products to the market and it immediately increased its sales income threefold. Now the company is producing 20 products in 8 categories with 14 full time staffs.

There is a very high demand for their products, especially from mothers with babies and toddlers, elderlies who get essential nutritional needs through the dairy products, however the company is not able to meet this market demand with its current production capacity.

In order to meet their market demand, the company is seeking loan 605 million MNT to buy new dairy equipment, 2 refrigerators and 2 more distribution trucks. It will increase job opportunity for 4 more full time staffs. By implementing the project, the company will be able to double the daily production capacity. 

Company nameUlemj Organic LLC 1
CEOTsogtbuyan Rentsen
LocationUlaanbaatar, Mongolia

Impact of this project

  • With this investment 4 jobs are created
  • With this investment 16 people are reached

About the investment

TypeLocal partner investment
IssuerGolomt Bank
Funding target€105,900
Annual interest2.50%
Maturity18 months
Repayment IntervalSemiannually
Terms and conditionsShow
Note termsDownload
Information document issuerDownload

About the risks

What are the risks of investing money?

The risk level depends on the specific project. Local partners cover the risk of currency exchange rates and defaults on Local Partner investments. They do this by maintaining financial reserves for this purpose. Aside from that, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to investors, our local partners face risks of their own that could affect their ability to secure your investment. These include - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.

With direct investments, risks of default are not covered. As the risks are higher, so are the interest rates.

There is also some operational risk at Lendahand. An example might be that Lendahand is unable to find shareholders to finance their activities. In such a case, Lendahand will handle outstanding investments at the best of its ability. At the same time, our ability to legally address non-payment from local partners becomes understandably difficult.

How does Lendahand minimize the risks?

Every local partner must share our social mission to ensure local entrepreneurs can access affordable financing, allowing them to grow their business. Local partners must also have a 'track record'; they must have proven themselves as a reliable credit provider for SMEs.

For instance, this means a solid credit portfolio and enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the portfolio company and how robust their (internal) procedures are. Finally, the investments must be in proportion to the total balance of that portfolio company. A healthy balance between effectuating influence and being independent is crucial. If you would like to receive more information on the financial indicators we employ, please contact us via

When currency exchange risks become too high for a local partner, Lendahand will urge the local partner to cover these risks. In some scenarios, the local partner is contractually obliged to comply with these demands.

Lendahand always conducts due diligence when companies request funding. The results can be downloaded on the project detail page. However, this analysis is not investing advice.

Does Lendahand provide a guarantee?

Usually we don't. Local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason, Lendahand only selects financially solid partners based on strict criteria.

For most direct investments, there is no guarantee. However, currency risks are covered.

Sometimes, and only for some direct investments in Africa, our partner Sida, part of the Swedish government, will guarantee a maximum of 50%. Read here more about guarantees with Sida. Projects with Sida guarantees are indicated explicitly on the project page.

Does Lendahand have a license or exemption?

Yes. The Dutch Authority Financial Markets (AFM) has provided Hands-on B.V. (with trade name 'Lendahand') in September 2016 with an investment firm license in accordance with article 2:96 of the Financial Markets Supervision Act (Wft). Placing orders on Lendahand's website is therefore an AFM regulated activity. Lendahand also meets its minimum capital requirements following its license as required by De Nederlandsche Bank (DNB).

Lendahand uses an exemption from an approved prospectus that is available up to EUR 5 Million per year. 

How safe are my personal details?

We adhere to strict safety requirements concerning private and payment details. All sensitive data is sent through an encrypted connection (https). Also, information is stored (encrypted) in a secured facility provided by AWS: the world’s largest hosting service. A secured connection and multi-factor authentication can only retrieve customer documents.

What happens if the local currency devaluates?

Our local partners and companies bear the exchange rate risks. We settle the investments, redemptions, and interest payments in euro.

Does Lendahand use a third foundation fund?

Lendahand works with Intersolve EGI: a Dutch financial institution specializing in payment settlement and electronic money. To be able to offer these financial services, Intersolve EGI must comply with the applicable financial legislation. Intersolve EGI is therefore supervised by De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) and owns a license to act as an Electronic Money Institution (and therefore also has a license as a Payment Institution). Your money will be deposited on a protected and secure bank account until the project you have invested in has been fully funded. Intersolve has no access to these funds. Once the project is fully funded, the money is transferred to the local partner or company in question.

What happens with my money if Lendahand goes bankrupt?

If Hands-On BV (containing the brand name Lendahand) went bankrupt, trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). Intersolve will then, in consultation with a trustee, handle all repayments between the investors and entrepreneurs until the final repayment of the last project has taken place.

Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses with trusted money and or financial instruments (such as notes or options) to a licensed bank, an investment firm, or a financial institution. In case the financial firm is unable to meet its obligations arising from claims related to the investment service (in other words, if Hands-On BV is not keeping track of the acquired notes by investors in the Wge depot correctly). The ICS guarantees an amount of up to €20.000 per individual. For more information, go to

Why is Intersolve EGI handling my money?

As part of the AFM license for investment firms, it is required that operational activities carried out by Lendahand (maintaining the website, contracting of local partners, legal issues, etc.) are strictly separated from financial transactions (payments made through the website). Intersolve takes care of the costs. This collaboration offers you more security since your money is placed on a protected bank account immediately after making your payment.

What happens when a local partner goes bankrupt?

When a local partner goes bankrupt, there’s a chance you’ll lose (part of) your money. Lendahand will try to recover outstanding payments, but the success rate is limited in such situations. For you, as an investor, there’s no possibility of taking action against the financial institution. Therefore, it is recommendable to choose several different projects.

About Golomt Bank

Portfolio Overview€1,071,102,268.56
Equity / total assets7.36%
Write-off ratio last 12 months5.41%
% investment amount in arrears (>90 days)6.53%

We have already contributed for Ulemj Organic LLC 1

Niek de Bruijn
Wilgert Velinga
Nettie Stougje
Jacques van den Bosch
Jan van Munster
+ and another