BB Brilliant

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Mongolia

BB Brilliant

Golomt Bank

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With a loan of EUR 25,850 Begzjav will be able to purchase sufficient inventory for the new shop in Ulaangom.

€25,850

Importe

3.00%

Interés

36 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€25,850
Interés	3.00%
Vencimiento	36 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 6 díasen 14 Noviembre 2018.

El proyecto

Begzjav (46), a former high school teacher, established BB Brilliant LLC in 2010. The company sells variety of skin and body care products at the shopping mall of Ulaangom city. In 2016, Begzjav expanded his business and opened an additional branch of the shop in the city. Now, the company has 4 sales assistants working at the 2 branches of the shop.

BB Brilliant LLC operates in Uvs province of Mongolia which is located at the west side of the country and borders with Russia. The population of the province has been increasing throughout the years, and the trade business is significantly growing. Begzjav also wants to broaden his business, and aspires to open the 3rd branch of the shop at the new public market of the city. He is in need of investments to buy the inventory for the new branch.

With a loan amount of MNT 75 million, Begzjav will be able to purchase sufficient inventory for the new shop. Also, he plans to hire 1 more employee for the new branch.

Nombre de la empresa	Golomt Bank
Director general	Begzjav Punsaa
Fundado	2010-01-01
Ubicación	Ulaangom, Uvs
Sector	Mayorista / Minorista
Volumen de negocio	€81,318.74
Empleados	4

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.