MongoliaKhundiin Khukh Chono LLC
With a loan amount of EUR 44,000 Gantulga will be able to buy the needed building for the bakery shop and run his bakery business more efficiently.
€44,000
3.00%
48 months
6 months
EUR
Currency| Amount | €44,000 |
| Interest | 3.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
“Khundiin khukh chono” LLC was established in 2013 by Gantulga in Uvurkhangai province of Mongolia. At first, the company sold Mongolian cashmere and textile products, later in 2016, it began selling Mongolian traditional silverware, and in 2017, it made a sales contract with the national jeans manufacturing company, “Urban.” Since the establishment of the company, Gantulga has been broadening his business and “Khundiin khukh chono” LLC has been named as a successful local company in the province.
Since March of 2018, the company established a franchising contract with a local bakery company. In order to begin his bakery business, Gantulga needs to purchase a building for the service area. He will hire 3 more employees for his new bakery shop: 2 bakers and 1 cashier. With a loan amount of 130 million, he will be able to buy the needed building for the bakery shop and run his bakery business together with his wife in Uvurkhangai province.
| Company name | Golomt Bank |
| CEO | Gantulga Chuluun |
| Founded | 2012-03-27 |
| Location | Arvaikheer, Uvurkhangai |
| Sector | Manufacturing / Production |
| Turnover | €560,867.25 |
| Employees | 5 |
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 3 jobs are created
- With this investment 15 lives are improved
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We have already contributed to Khundiin Khukh Chono LLC
Els MolRoderik EmmerinkPiet van der KooiTon Van der MeerFrans Wittenberg