GSB Capital 43

In Ulaanbaatar, the coldest capital in the world, every detail in a home matters when it comes to keeping the cold out, including the furniture. Euroline makes custom eco-friendly furniture from local Mongolian wood, that doesn't feel cold to the touch and provides natural insulation. With a loan from GSB Capital, the furniture maker was able to expand and create more jobs.

funding gap emerging markets
GSB Capital
Company
Mongolia
Country

The project

In Ulaanbaatar, winter temperatures can drop as low as -40 degrees Celsius. A warm and well-insulated home is therefore essential, and that starts with the furniture inside it too.

Euroline, a local furniture manufacturer, makes custom sustainable furniture from Mongolian wood. While cheap imported materials sometimes contain harmful substances, Euroline deliberately chooses healthy, sustainably produced materials that also provide good insulation against the cold. This way, the company perfectly matches what the local market needs: sustainable, warm, and healthy.

With a loan from GSB Capital, Euroline was able to grow significantly. The factory was expanded with its own showroom, where customers can now view the furniture before placing an order. Thanks to this growth, the company was also able to hire more staff: the team grew to as many as 20 employees.

With your investment, you help local entrepreneurs like Euroline continue to grow. This way, you contribute to healthy, sustainable living conditions as well as new jobs in Ulaanbaatar.

Your investment

  • Annual interest rate: 5.5%
  • For an investment of €1,000, the expected total repayment is €1,069.
  • Maturity: 24 months. You will receive equal repayments of your investment every 6 months, totaling 4 repayments.
  • Currency: euro

GSB Capital

CEO
Chinbat Choijamts
Founded
2010-10-05
Location
Ulaanbataar
Sector
Financial services
Turnover
€7,997,889
Employees
103
€205,000raised
Fully funded in 32 minutes on 6 October 2026.
627investors
€205,000
target
5.5
%
Interest
24
months
Maturity
6
months
Repayments
A+
B
C
D
E
Credit score
Growth financing
Euro

Impact

43
Lives improved

In Mongolia, small and medium-sized enterprises face significant challenges due to stringent banking requirements and a need for more government support. This makes it difficult for entrepreneurs to grow and create jobs. At the same time, the country struggles with severe air pollution, particularly in Ulaanbaatar, where over 200,000 households burn coal to heat their homes. According to a 2019 study by the Asian Development Bank, approximately 80% of the air pollution in the capital is due to this practice.

GSB Capital addresses these issues holistically. On one hand, it offers fast business loans to underserved SME entrepreneurs, enabling them to grow and contribute to the local economy. On the other hand, GSB Capital invests in a green loan program that promotes environmentally friendly heating alternatives, reducing reliance on coal and improving air quality. These initiatives not only foster economic growth but also make a significant contribution to a cleaner environment.

  • 35% of GSB loans support female entrepreneurs, helping them grow their businesses and create jobs


Related blog posts

  • We recently visited multiple SME entrepreneurs in Mongolia. Read the travelblog here.