Iderbaatar

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Mongolia

Iderbaatar

Golomt Bank

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With EUR 8,550 Iderbaatar can open a new shop and will be able to buy sufficient amount of inventory to supply the local market.

€8,550

Importe

3.00%

Interés

36 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€8,550
Interés	3.00%
Vencimiento	36 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 2 díasen 29 Octubre 2018.

El proyecto

In 2000, Iderbaatar (45) has established his own business as a wholesaler of consumer goods, such as flour and rice, at the local market of Dornod province. His business has been growing throughout the years, and now, he sells many different food products including sugar, pasta and vegetables, while offering lower prices.

Iderbaatar operates his business in Dornod province, which is located at the east part of the country and borders with Russia and China. Due to an economically favorable location, trade business has been significantly developed in the province. Iderbaatar also wants to expand his business by opening a new shop at the market. However, he is in short of investments and needs to buy inventory for the new shop.

With a loan amount of MNT 25 million, he will be able to buy sufficient amount of inventory to supply the local market. He will hire 2 more employees at the new shop.

Nombre de la empresa	Golomt Bank
Director general	Iderbaatar Oyunsuren
Fundado	2000-01-01
Ubicación	Kherlen Dornod
Sector	Mayorista / Minorista
Volumen de negocio	€45,496.93
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.