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funding gap emerging markets
Mongolia

Uv sanaa LLC

  • Golomt Bank
  • Invest in a Financial Institution
  • + 141 other investors
  • With a loan of EUR 52,450 Tserenmyadag is able to expand her bakery shop and hire 6 more employees.

    €52,450
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€52,450
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 5 days on 14 July 2018.

      Summary

      Tserenmyadag (42) is a professional baker who started her own bakery company - Uv Sanaa LLC - in her hometown Uvurkhangai in 2008. Born and raised in this province in Mongolia, Tserenmyadag was aware of the fact that rural area people are unable to consume fresh and healthy baked goods, since all major bakery manufacturers are located in Ulaanbaatar, the capital of Mongolia. With this bakery she produces 40 different kinds of fresh products daily, holding 90% of the local market share.

      With this loan, Tserenmyadag will be able to expand her manufacturing building and introduce a coffee shop and hire 6 more employees.

      Company nameUv sanaa LLC
      CEOTserenmyadag Batsuuri
      Founded2008-01-01
      LocationUvurkhangai province
      SectorAgriculture
      Turnover€154,895.10
      Employees21

      Impact

      Small and Medium Enterprises (SMEs) are important contributors to job creation and economic growth in emerging markets. However, access to financing is a key constraint to SME growth, as about half of them don't have access to formal credit. In Mongolia, Golomt Bank serves nearly 80% of the corporate market. They were the first commercial bank in the country to issue small business loans. Golomt Bank accelerated the development of mobile banking in Mongolia by introducing smart banking services in the local financial sector.

      Financial support enables Mongolian entrepreneurs to increase their professional activity, resulting in job creation and improved living conditions.

      Golomt Bank is a member of the United Nations Environmental Program Finance Initiative (UNEP FI). This partnership helps create a financial sector that serves people and the planet and mobilizes private sector finance for sustainable development. The bank has a "Sustainable Development Policy" in which they implement the SDGs in all its operations. For example, improving their waste management, increasing the number of roads for wheelchair users in their offices, and cooperating with environmentally friendly organizations.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No Poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

      • With this investment 6 jobs are created

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      We have already contributed to Uv sanaa LLC

      Gert Baas
      Ton Van der Meer
      Menne Glas
      Poul Brands
      Piet van der Kooi
      + and another
      141
      investors