Jimsee
With a loan of EUR 16,950 Jimsee will be able to expand the pharmacy department in her store and buy the necessary inventory.
€16,950
3.00%
48 months
6 months
EUR
CurrencyAmount | €16,950 |
Interest | 3.00% |
Maturity | 48 months |
Repayments | 6 months |
Currency | EUR |
The project
Jimsee M. is a local businesswoman of Uvs province who has established her own convenience shop in 2001. Later in 2011, she expanded her shop into a wholesale center and began selling consumer goods including health care, body care and beauty products. In 2013, she added a new business line and opened a small pharmacy near her shop. Now, she has 3 employees.
Throughout the years, Jimsee’s business has grown significantly, especially the pharmacy has become one of the biggest medicine supplier in Ulaangom city of Uvs province. Thus, to meet the local demand, Jimsee plans to purchase inventory for the pharmacy use. With a loan amount of MNT 50 million she will able to purchase the needed inventory.
Company name | Golomt Bank |
CEO | Jimsee Monkhor |
Founded | 2001-06-03 |
Location | Ulaangom, Uvs province |
Sector | Wholesale / Retail |
Turnover | €491,085.60 |
Employees | 3 |
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