Tsogt Trade LLC

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Mongolia

Tsogt Trade LLC

Golomt Bank

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With a loan of EUR 33,900 Tsogt Trade LLC will be able to upgrade factory equipments and renovate the workshop.

€33,900

Importe

3.00%

Interés

36 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€33,900
Interés	3.00%
Vencimiento	36 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 4 díasen 22 Julio 2019.

El proyecto

Tsogt Trade LLC was established in 2002. The main operations of the company are furniture manufacturing, sales of construction materials, and real estate rent. The company usually manufactures kitchen and office furniture. The company’s factory is located in Ulaanbaatar city and it has 6 permanent employees.

As an apartment construction sector is rapidly developing in Mongolia, home furniture manufacturing business is also in a high demand. Tsogt Trade LLC’s furniture design and quality have been favored by its clients. Thus, the company plans to upgrade factory facilities and renovate the workshop in order to decrease manual operations and shorten the manufacturing period. The company is in need to purchase automatic edges, saw and vacuum cleaners.

With a loan amount of MNT 100 million, Tsogt Trade LLC will be able to upgrade factory equipments and renovate the workshop.

Nombre de la empresa	Golomt Bank
Director general	Tsogt Tumur
Fundado	2002-06-25
Ubicación	Ulaanbaatar
Sector	Agricultura
Volumen de negocio	€330,914.75
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.