Bazarragchaa

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Mongolia

Bazarragchaa

Golomt Bank

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With a loan amount of EUR 40,650 Bazarragchaa will be able to purchase the desired products and expand her household items.

€40,650

Importe

2.50%

Interés

24 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€40,650
Interés	2.50%
Vencimiento	24 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 5 díasen 3 Abril 2019.

El proyecto

Bazarragchaa is an experienced businesswoman who has been importing and selling household items since 1998. She started her business at the small market of Ulaanbaatar city, and a year later she relocated the shop to the “Narantuul” international trade center (ITC) of the capital city. Now, her store is expanded as per size and has been known for the long-term operations at the trade center.

“Narantuul” ITC is the largest public market of Mongolia, which was established in 1999. There are 15,000 business owners operate in the market and engage in wholesale and retail trade by offering a wide range of products and services. As the “Narantuul” market has become the main trade center of the country, it is popular by not only among the city residents, but also among local and international tourists. Thus, Bazarragchaa plans to broaden the product lines by adding variety of eco-consumer products such as eco-friendly laundry detergents and dish soaps.

With a loan amount of MNT 122 million, she will be able to purchase the desired products and improve the product choices.

Nombre de la empresa	Golomt Bank
Director general	Bazarrragchaa Togookhuu
Fundado	1998-03-01
Ubicación	Ulaanbaatar
Sector	Mayorista / Minorista
Volumen de negocio	€664,480.32
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.