Choijilsuren

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Mongolia

Choijilsuren

Golomt Bank

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With a loan of EUR 39,200 Choijilsuren is able to restock and therefore prevent his solar panel store from stock-outs during high season.

€39,200

Importe

3.00%

Interés

48 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€39,200
Interés	3.00%
Vencimiento	48 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 3 díasen 26 Junio 2018.

El proyecto

Choijilsuren (51) sells solar panel and battery storage for nomadic herders in the province of Uvurkhangai in Mongolia. He started his business in 1992 by selling electronic products to herders. In 2005, he realized that solar panels are essential for nomadic herders, who live in the vast steppes where there's a lack of electricity for all of nomadic households.

Uvurkhangai province is located in the south of the country and 430 kilometers away from capital city Ulaanbaatar. It has the largest number of livestock in the country, therefore more and more herders are willing to buy solar panel to enable lights, refrigerator, television and other electric devices at home. Choijilsuren constantly upgrades his products and services and his business is known for its good quality products .

This loan will enable Choijilsuren to prepare for the upcoming high season and hire 1 more employee at the store.

Nombre de la empresa	Golomt Bank
Director general	Choijilsuren Adiyakhuu
Fundado	1992-01-01
Ubicación	Uvurkhangai province
Sector	Mayorista / Minorista
Volumen de negocio	€138,533
Empleados	3

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.