Khundiin Khukh Chono LLC

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Mongolia

Khundiin Khukh Chono LLC

Golomt Bank

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With a loan amount of EUR 44,000 Gantulga will be able to buy the needed building for the bakery shop and run his bakery business more efficiently.

€44,000

Importe

3.00%

Interés

48 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€44,000
Interés	3.00%
Vencimiento	48 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 9 díasen 14 Abril 2019.

El proyecto

“Khundiin khukh chono” LLC was established in 2013 by Gantulga in Uvurkhangai province of Mongolia. At first, the company sold Mongolian cashmere and textile products, later in 2016, it began selling Mongolian traditional silverware, and in 2017, it made a sales contract with the national jeans manufacturing company, “Urban.” Since the establishment of the company, Gantulga has been broadening his business and “Khundiin khukh chono” LLC has been named as a successful local company in the province.

Since March of 2018, the company established a franchising contract with a local bakery company. In order to begin his bakery business, Gantulga needs to purchase a building for the service area. He will hire 3 more employees for his new bakery shop: 2 bakers and 1 cashier. With a loan amount of 130 million, he will be able to buy the needed building for the bakery shop and run his bakery business together with his wife in Uvurkhangai province.

Nombre de la empresa	Golomt Bank
Director general	Gantulga Chuluun
Fundado	2012-03-27
Ubicación	Arvaikheer, Uvurkhangai
Sector	Producción manufacturera
Volumen de negocio	€560,867.25
Empleados	5

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.