Ankhlan Az LLC

Mongólía

Ankhlan Az LLC

Golomt Bank

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With a loan of EUR 47,950 Davaadorj will be able to acquire necessary inventory for the coming construction season.

€47,950

Upphæð

3.00%

Áhugi

36 mánuðir

Gjaldagi

6 mánuðir

Endurgreiðslur

EUR

Gjaldmiðill

Upphæð	€47,950
Áhugi	3.00%
Gjaldagi	36 mánuðir
Endurgreiðslur	6 mánuðir
Gjaldmiðill	EUR

100%

Fullfjármagnað á 45 dögumá 16 March 2018.

Verkefnið

Read the information document of the issuer here

Erdenet city is the second largest city in Mongolia, after capital city-Ulaanbaatar and it has 110 thousand citizens. Because of the air pollution and excessed population density in the capital city, more people are encouraged to move to the other cities, such as Erdenet city. Hence, the city is developing rapidly in recent years and many new buildings and apartments are being built.

In 2011, Davaadorj Norson, 45, established his wholesale company to facilitate the development of building industry in the region. He and his wife Bayarjargal operate the business which brought all building materials salesmen together under the one roof, which has become the biggest regional building materials store now. This way, not only they can reduce the product logistics cost, but also they are promoting the local economy.

Davaadorj is utilizing the business opportunity by filling the logistics gap of wholesale market. Transporting construction materials each time from Ulaanbaatar city caused additional cost for the rural developers and created additional hurdle for the regional development. Davaadorj now became one of the main wholesale provider in Erdenet city, providing 16 staff a permanent job place.

The loan proceeds will be utilized for acquiring necessary inventory for the coming construction season to be started from April. The company will hire additional 3 salesmen and fill the working capital gap with the 140 million MNT.

Fyrirtækjanafn	Golomt Bank
For the term "CEO," the appropriate translation in Icelandic is "forstjóri."	Davaadorj Norson
Stofnað	2011-01-01
Staðsetning	Erdenet city
Geiri	Heildsala / Smásala
Velta	€431,506.84
Starfsfólk	16

Áhrif

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.