MongoliaBaasan Myagmar
With a loan of EUR 30,400 Baasan will be able to renovate the freezers, increase the inventory and hire 2 more people.
€30,400
3.00%
36 months
6 months
EUR
Currency| Amount | €30,400 |
| Interest | 3.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Baasan (64) has first begun his business in 1998 by opening a consumer meat shop at the “Bayanzurkh” market in Ulaanbaatar city. Later in 2000, he broadened his business and opened additional shop which offers meat grinding and chopping services. Now, his shop is known to customers for its healthy and nutritious consumer meat. Also, Baasan has made meat supply contracts with several big restaurants of the city.
As livestock has been the fundamental food resource of the country, Mongolian traditional foods often include beef, lamb or horse meat. Therefore, demand of consumer meat is always high, especially in winter seasons. In order to store the freshness of the meat Baasan plans to renovate the commercial meat freezers at the shops and purchase brand new freezers.
Also, he plans to buy sufficient amount of inventory to prepare for the upcoming season, and to increase its meat supply to nearby restaurants. He will hire 2 more employees including 1 distributor and 1 butcher.
In order to fulfill his plan, Baasan seeks to borrow 89 million MNT and to promote his consumer meat business.
| Company name | Golomt Bank |
| CEO | Baasan Myagmar |
| Founded | 1998-01-01 |
| Location | Ulaanbaatar |
| Sector | Wholesale / Retail |
| Turnover | €188,545.38 |
| Employees | 2 |
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 Baasan Myagmar
Gerard de JongMadelien van ManenGert BaasJan de WitPiet van der Kooi