Sweet Raisins LLC

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Mongolia

Sweet Raisins LLC

Golomt Bank

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With a loan of EUR 40,700 Bazarragchaa and Altanshagai will be able to expand their packaging and distribution company and hire three more employees.

€40,700

Importe

2.50%

Interés

24 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€40,700
Interés	2.50%
Vencimiento	24 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 20 díasen 15 Julio 2019.

El proyecto

Sweet Raisins LLC was established in 2017 by a young family; Bazarragchaa (husband) and Altanshagai (wife). The main operation of the company is the packaging and distribution of food preparation ingredients, such as fruits and vegetables, to food production factories and restaurants. Right now, the company has 6 employees and 2 trucks for delivery. The company has been operating successfully since its foundation and has high demand for its good quality and reasonably priced products.

Sweet Raisins LLC has recently signed a supply contract with a food production company that prepares lunch sets for public elementary schools. Thus, the company needs to increase its production capacity and purchase inventories to supply the required products. With a loan amount of EUR 40,700, Sweet Raisins LLC will be able to meet the raised demand of the contractors. The family is going to hire 3 more employees: 1 sales assistant and 2 distributors.

Local partner Golomt Bank will provide the loan, which has to be repaid in 24 months

Nombre de la empresa	Golomt Bank
Director general	Altanshagai Munkh-Erdene
Fundado	2017-06-07
Ubicación	Ulaanbaatar
Sector	Distribución y Procesamiento
Volumen de negocio	€352,035.12
Empleados	6

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.