Bayarsaikhan Damdin

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Mongolia

Bayarsaikhan Damdin

Golomt Bank

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With a loan of EUR 17,700 Bayarsaikhan will be able to buy sufficient amount of inventory to supply the local market.

€17,700

Importe

3.00%

Interés

48 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€17,700
Interés	3.00%
Vencimiento	48 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 8 díasen 7 Septiembre 2018.

El proyecto

Bayarsaikhan (56), is an enthusiastic entrepreneur, and has established his business at a young age. He graduated in photography in 1980, and started his entrepreneurship as a professional photographer in 1994. Later in 2001, he began selling camera tools, small household items, and prepaid cards of local cellphone carriers. In September 2017, he made an agent contract with Mobicom, the largest cellphone carrier in Mongolia. Now, his business has grown as an official Mobicom branch where all customer services, sales of phones and other appliances are available. His business is not limited to only Mobicom, but also he sells prepaid cards of other cellphone carriers such as Skytel and Unitel at the local shop.

Bayarsaikhan operates his business in Uvurkhangai province, which is located 430 km away from the capital city-Ulaanbaatar; and is one of the rapidly developing provinces in Mongolia. There are 2 other branches of Mobicom in the province, however the local demand for cellphone carrier services has been significantly increasing. Bayarsaikhan cannot meet the local demand for cell phone goods.

With a loan amount of MNT 50 million, he will be able to buy sufficient amount of inventory to supply the local market. His business contributes to the local communication sector, and enables more people to connect with their families or friends who are far away.

Nombre de la empresa	Golomt Bank
Director general	Bayarsaikhan Damdin
Fundado	1994-01-01
Ubicación	Arvaikheer, Uvurkhangai
Sector	Servicios
Volumen de negocio	€121,577.64
Empleados	2

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.