funding gap emerging markets
Mongolia

Ankhlan Az LLC

  • Golomt Bank
  • Inversión con socio local
  • + otros 152 inversores
  • With a loan of EUR 47,950 Davaadorj will be able to acquire necessary inventory for the coming construction season.

    €47,950
    Importe
    3.00%
    Interés
    36 meses
    Vencimiento
    6 meses
    Reembolsos
    EUR
    Moneda
    Importe€47,950
    Interés3.00%
    Vencimiento36 meses
    Reembolsos6 meses
    MonedaEUR
      100%
      Completamente financiado en 45 díasen 16 Marzo 2018.
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      Inversión media
      Basado en todas las inversiones históricas de Lendahand
      Financiación completa
      El proyecto se financiará por completo

      Resumen

      Read the information document of the issuer here

      Erdenet city is the second largest city in Mongolia, after capital city-Ulaanbaatar and it has 110 thousand citizens. Because of the air pollution and excessed population density in the capital city, more people are encouraged to move to the other cities, such as Erdenet city. Hence, the city is developing rapidly in recent years and many new buildings and apartments are being built.

      In 2011, Davaadorj Norson, 45, established his wholesale company to facilitate the development of building industry in the region. He and his wife Bayarjargal operate the business which brought all building materials salesmen together under the one roof, which has become the biggest regional building materials store now. This way, not only they can reduce the product logistics cost, but also they are promoting the local economy.

      Davaadorj is utilizing the business opportunity by filling the logistics gap of wholesale market. Transporting construction materials each time from Ulaanbaatar city caused additional cost for the rural developers and created additional hurdle for the regional development. Davaadorj now became one of the main wholesale provider in Erdenet city, providing 16 staff a permanent job place.

      The loan proceeds will be utilized for acquiring necessary inventory for the coming construction season to be started from April. The company will hire additional 3 salesmen and fill the working capital gap with the 140 million MNT.

       

      Nombre de la empresaAnkhlan Az LLC
      Director generalDavaadorj Norson
      Fundado2011-01-01
      UbicaciónErdenet city
      SectorMayorista / Minorista
      Volumen de negocio€431,506.84
      Empleados16

      Impacto

      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.

       

      Related blog posts

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      152
      inversores