Bayarsaikhan

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Mongolia

Bayarsaikhan

Golomt Bank

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With an amount of EUR 33,150 Bayarsaikhan will be able to buy the needed inventory for his shop and hire 2 more sales assistants.

€33,150

Importe

3.00%

Interés

48 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€33,150
Interés	3.00%
Vencimiento	48 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 13 díasen 24 Abril 2019.

El proyecto

Bayarsaikhan (56), is a local entrepreneur who has established his business in 2010. He began his business by opening an internet café at one of the “ger” district area, Bayankhoshuu. The internet café has become very popular among the local residents, as they have limited internet access at their homes. Later in 2017, Bayarsaikhan expanded his business by opening a new convenience shop next his internet café. Now, he has 2 employees at the internet café and 1 employee at the newly opened shop.

Bayarsaikhan operates his business in Bayankhoshuu “ger” district which is located in the north area of Ulaanbaatar city. The local residents are not easily accessible to the big markets and shops because these places are mostly located at the center of the city. Therefore, Bayarsaikhan aspires to purchase variety of consumer goods to provide with the demanded products of local residents.

Nombre de la empresa	Golomt Bank
Director general	Bayarsaikhan Yandaakhuu
Fundado	2010-03-27
Ubicación	Ulaanbaatar
Sector	Mayorista / Minorista
Volumen de negocio	€72,466.81
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.