Ecoholiday LLC
With a loan of EUR 33,900 Ecoholiday LLC will be able to purchase make-up products with natural ingredients for the new shop.
€33,900
3.00%
36 months
6 months
EUR
CurrencyAmount | €33,900 |
Interest | 3.00% |
Maturity | 36 months |
Repayments | 6 months |
Currency | EUR |
The project
Ecoholiday LLC was established in 2013 as an official distributor of “The Face Shop” brand. “The Face shop” is one of the top beauty brand in South Korea which has various types of skincare, cosmetics, and make-up products with natural ingredients. Currently, Ecoholiday LLC has 8 branches of “The Face shop” in Ulaanbaatar city, mostly at the big shopping malls such as E-Mart and Hunnu mall. The company has 26 full time employees.
The Korean skin care and make up products have become more popular among the Mongolian young women in recent years. Especially, the products of Face shop have the highest demand due its natural and fresh ingredients. Thus, Ecoholiday LLC aims to open its 9th shop at the new branch of E-mart mall.
Company name | Golomt Bank |
CEO | Munkhbat M |
Founded | 2013-08-12 |
Location | Ulaanbaatar |
Sector | Wholesale / Retail |
Turnover | €540,601.14 |
Employees | 26 |
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