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funding gap emerging markets
Mongolia

Ekhtsugts LLC 2

  • Golomt Bank
  • Invest in a Financial Institution
  • + 153 other investors
  • With a loan of EUR 42,400 dental clinic Ekhtsugts LLC will be able to hire 3 more dentists and broaden the business with more clients.

    €42,400
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€42,400
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 13 days on 14 August 2019.

      Summary

      Enkhtsugts dental clinic was established in 2007 by dentist Bayarmaa N. (39).  In 2010, Bayarmaa has expanded the clinic in size and hired 4 more dentists and 1 nurse. Later in 2012, the clinic was broadened its services and introduced orthodental services, including application of braces. Now, the company has 13 full time dentists and nurses, and serves with modern equipments from USA, Japan and China.

      Enkhtsugts dental clinic is located in Songinokhairkhan district which is one of the sub-urban areas of Ulaanbaatar city. Thus, “Enkhtsugts” is one of the large dental clinics at the district and has been renowned among the local residents. 

      In 2018, the clinic has been moved to a bigger building, and it needs to purchase new facilities such as dental beds and other equipments. With a loan amount of MNT 250 million, the company would be able to broaden its business and hire 3 more dentists.

      Company nameEkhtsugts LLC 2
      CEOBayarmaa Naranbaatar
      Founded2007-06-24
      LocationUlaanbaatar
      SectorServices
      Turnover€159,399.33
      Employees13

      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 3 jobs are created
      • With this investment 12 lives are improved

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      We have already contributed to Ekhtsugts LLC 2

      Anneloes Gerritsen
      Edwin Tofield
      Gert Baas
      Jan van Munster
      Hans Bierhuis
      + and another
      153
      investors