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funding gap emerging markets
Mongolia

Delgerbet LLC

  • Golomt Bank
  • Invest in a Financial Institution
  • + 232 other investors
  • With the loan of EUR 82,750 Bayrsaikhan will be able to purchase the building and open the second branch of the wholesale supermarket.

    €82,750
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€82,750
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 42 days on 21 March 2019.

      Summary

      In 1994, Bayarsaikhan has graduated from the Mongolian National University as a philosopher.  However, he was more interested in establishing his own business and opened his first wholesale supermarket in Baganuur district in 1997.  Bayarsaikhan has been operating his store successfully for about a decade, and the store has been known for its variety choice and reasonable price among the local consumers. Later in 2008, he established his own company “Delgerbet” and expanded his business by building a small mall in the district. Now, he operates a supermarket and a food court at the mall, and rents the service area for other local entrepreneurs.

      Bayrsaikhan aspires to broaden his business and to open a branch supermarket in Ulaanbaatar city. He plans to purchase a real estate that was built as a supermarket (110 square meters). However, he is in short of investments to obtain his goal. With the loan amount of MNT 250 million, he will be able to purchase the building and open the second branch of the wholesale supermarket. He will hire 5 more employees including 2 cashiers, 1 security and 1 warehouse clerk.

      Company nameDelgerbet LLC
      CEOBayarsaikhan Bayasgalan
      Founded2017-02-04
      LocationBaganuur District
      SectorWholesale / Retail
      Turnover€178,381.62
      Employees7

      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 5 jobs are created
      • With this investment 25 lives are improved

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      We have already contributed to Delgerbet LLC

      Ton Schroer
      Alcanne Houtzaager MA
      Hans Bierhuis
      Jan de Wit
      Maarten Pijnenburg
      + and another
      232
      investors