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funding gap emerging markets
Mongolia

Tsogt Trade LLC

  • Golomt Bank
  • Invest in a Financial Institution
  • + 116 other investors
  • With a loan of EUR 33,900 Tsogt Trade LLC will be able to upgrade factory equipments and renovate the workshop.

    €33,900
    Amount
    3.00%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€33,900
    Interest3.00%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 4 days on 22 July 2019.

      Summary

      Tsogt Trade LLC was established in 2002. The main operations of the company are furniture manufacturing, sales of construction materials, and real estate rent. The company usually manufactures kitchen and office furniture. The company’s factory is located in Ulaanbaatar city and it has 6 permanent employees.

      As an apartment construction sector is rapidly developing in Mongolia, home furniture manufacturing business is also in a high demand. Tsogt Trade LLC’s furniture design and quality have been favored by its clients. Thus, the company plans to upgrade factory facilities and renovate the workshop in order to decrease manual operations and shorten the manufacturing period. The company is in need to purchase automatic edges, saw and vacuum cleaners.

      With a loan amount of MNT 100 million, Tsogt Trade LLC will be able to upgrade factory equipments and renovate the workshop.

      Company nameTsogt Trade LLC
      CEOTsogt Tumur
      Founded2002-06-25
      LocationUlaanbaatar
      SectorAgriculture
      Turnover€330,914.75
      Employees6

      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 2 jobs are created
      • With this investment 10 lives are improved

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      We have already contributed to Tsogt Trade LLC

      Ron van Eijk
      Poul Brands
      Aad Nootebos
      Madelien van Manen
      Joop Singeling
      + and another
      116
      investors