GSB Capital 9
Hatadiin is a furniture maker in Ulaanbaatar, Mongolia. With a loan from GSB Capital, he expanded his business and created eight jobs. Your investment in GSB Capital enables them to provide loans to 23 entrepreneurs like Hatadiin, helping small businesses grow.
The project
In Ulaanbaatar, Hatadiin’s workshop combines entrepreneurship with craftsmanship, transforming wood into furniture pieces that enhance homes and lives.
A loan from GSB Capital enabled him to purchase essential machinery, a truck, and materials to establish his workshop. As the business grew, he was able to build a team of eight skilled craftsmen.
Reflecting on the support he received from GSB Capital, Hatadiin notes, “I first learned about GSB through friends who praised their credit solutions for business investments. My first experience with GSB's loan was so positive that I have continued to partner with them. Their process is fast, simple, and exactly what an entrepreneur needs to thrive.”
Today, Hatadiin’s successful business shows how crucial financial support from institutions like GSB Capital is for entrepreneurs who can't access traditional bank loans.
GSB Capital on Lendahand
- Active on Lendahand since: December 2023
- Total funds raised: €980,000
- Amount repaid: €125,000
- Interest paid: €18,000
- On-time repayments: 3 out of 3 (100%)
Your investment
- Annual interest rate: 6%
- Return: 7,5%. For an investment of €1,000, the expected total repayment is €1,075.
- Maturity: 24 months
- Currency: euro
GSB Capital
Impact
In Mongolia, small and medium-sized enterprises face significant challenges due to stringent banking requirements and a need for more government support. This makes it difficult for entrepreneurs to grow and create jobs. At the same time, the country struggles with severe air pollution, particularly in Ulaanbaatar, where over 200,000 households burn coal to heat their homes. According to a 2019 study by the Asian Development Bank, approximately 80% of the air pollution in the capital is due to this practice.
GSB Capital addresses these issues holistically. On one hand, it offers fast business loans to underserved SME entrepreneurs, enabling them to grow and contribute to the local economy. On the other hand, GSB Capital invests in a green loan program that promotes environmentally friendly heating alternatives, reducing reliance on coal and improving air quality. These initiatives not only foster economic growth but also make a significant contribution to a cleaner environment.
SDGs impacted
With this project, you are contributing to the following SDGs. Read more about the impact you can make through our platform and the SDGs on our impact page.
- SDG 1 - No Poverty
- SDG 8 - Decent Work and Economic Growth
Related blog posts
- We recently visited multiple SME entrepreneurs in Mongolia. Read the travelblog here.
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