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funding gap emerging markets
Mongolia

Gantsetseg

  • Golomt Bank
  • Invest in a Financial Institution
  • + 53 other investors
  • With a loan amount of EUR 34,100, Gantsetseg will be able to purchase a building near the public market to sell clothes.

    €34,100
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€34,100
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 12 days on 6 November 2018.

      Summary

      In 1998, Gantsetseg (49) has established her business by selling variety of consumer products in the markets of Ulaanbaatar city. In 2002, she moved back to her hometown, Dornod province, and opened a small clothing store which sells Mongolian traditional clothes and accessories. Later in 2006, she expanded her business by launching a small supermarket. Now, she has 2 employees at the each store.

      Gantsetseg operates her business in Dornod province which is located at the east part of the country and borders with Russia and China. Due to an economically favorable location, international trade has been significantly developed in the province. Therefore, Gantsetseg plans to relocate the stores near the public market by purchasing a new building. She seeks to promote her business by selling Mongolian traditional clothes and food at the store.

      With a loan amount of MNT 100 million, she will be able to purchase a building near the public market. Gantsetseg aspires to sell more Mongolian traditional items to the international buyers.

      Company nameGantsetseg
      CEOGantsetseg Tumurbaatar
      Founded1998-01-01
      LocationKherlen Dornod
      SectorWholesale / Retail
      Turnover€121,681.86
      Employees2

      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 Gantsetseg

      Ton Schroer
      Harry Stein
      Jan van Munster
      Menne Glas
      Lot Hagenaars
      + and another
      53
      investors