MongoliaBatsuuri
With a loan of EUR 12,050 Batsuuri will be able to purchase additional inventory and sell fine-quality clothing and shoes.
€12,050
3.00%
48 months
6 months
EUR
Currency| Amount | €12,050 |
| Interest | 3.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Batsuuri (35) has graduated from the Mongolian Academy of Management in 2005, majoring in Business Administration. Directly after his graduation, he established his own business and opened a small boutique selling men and women apparel in Bayanzurkh district of Ulaanbaatar city. Later in 2012, he has broadened his clothing shop and relocated at the “Sunday plaza” shopping mall. Now, the small boutique has expanded to a specialized store selling men and women clothing and shoes. Currently, he has 1 employee as a sales assistant at the mall.
The clothing shop of Batsuuri is located inside of the “Sunday Plaza” shopping mall, which is one of the popular malls of the city. Also, the mall is located at the most vibrant area of the city where high number of college students live nearby. Thus, a demand for clothes with fine quality and reasonable prices is increasing among younger generation of the city. Batsuuri plans to broaden the shop to meet the growing demand of youth.
With a loan amount of MNT 35 million, he will be able to purchase additional inventory and sell fine-quality clothing and shoes with a wide range of choices. He will hire 1 more sales assistant at his store.
| Company name | Golomt Bank |
| CEO | Batsuuri Baasanjav |
| Founded | 2005-01-01 |
| Location | Ulaanbaatar |
| Sector | Wholesale / Retail |
| Turnover | €90,994 |
| Employees | 1 |
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 1 jobs are created
- With this investment 4 lives are improved
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We have already contributed to Batsuuri
Ton Van der MeerLot Hagenaars