MongoliaJUGE LLC
With a loan of EUR 35,350 Sarangua will be able to to build a small meat processing factory in Ulaanbaatar city.
€35,350
3.00%
48 months
6 months
EUR
Currency| Amount | €35,350 |
| Interest | 3.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Juge LLC was found in 2002 with a mission of serving healthy and nutritious dishes through its restaurants. The company operates in 2 branches with total of 12 employees: “Egshiglen” restaurant locates at one of the busiest district of the capital city; “Ayanii Zoog” diner locates at the east exit of the city and provides various dishes of Mongolian and Korean cuisines for those who are travelling out of the city.
As livestock has been the fundamental food resource of the country, Mongolian traditional foods often include beef, lamb or horse meat. Throughout the years, livestock number has been increasing and the total amount of livestock of the country has reached its peak at 66 million in 2017. However, consumer meat processing and storing still lack factory establishments.
Currently, she is planning to build a small meat processing factory of 1.4 hectares of land in Ulaanbaatar city. By employing the organic meat factory, Juge LLC can fully supply its branches meat demand and provide dishes with fresh and healthy meat to its customers. Also, the company is planning to supply nearby markets so that consumers will be able to purchase fresh meat at reasonable prices. Additionally, meat processing factory will allow the company to decrease its logistics expenses and to contribute to the branches renovation. She will hire 8 more employees including accountant, technician, butcher and gatekeeper.
| Company name | Golomt Bank |
| CEO | Sarangua Damdinbazar |
| Founded | 2002-01-01 |
| Location | Ulaanbaatar |
| Sector | Agriculture |
| Turnover | €161,301.73 |
| Employees | 12 |
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 8 jobs are created
- With this investment 40 lives are improved
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We have already contributed to JUGE LLC
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