InvesCore NBFI 10
Entrepreneur Davaarjargal is hoping for financing for her shop in Mongolia. With an investment in local partner InvesCore, 10 small and medium-sized business owners like her will secure the necessary working capital to drive their businesses forward. *exchange rate risk EUR/USD*
€100,000
5.50%
24 måneder
6 måneder
USD
ValutaBeløp | €100,000 |
Interesse | 5.50% |
Modenhet | 24 måneder |
Tilbakebetalinger | 6 måneder |
Valuta | USD |
Prosjektet
Please note: 1st principal repayment after 12 months instead of 6 months. However, the interest payments start after 6 months.
In Ulaanbaatar, the capital of Mongolia, Davaarjargal runs her own business. Her shop specializes in naturally produced soaps and bath salts. She sources her raw materials from local nomads, for whom this trade also represents an important source of income. Thanks to a loan from InvesCore, a local microfinance institution, she can purchase more of the necessary materials and expand her business. Small and medium-sized entrepreneurs in Mongolia need working capital for their business to grow. A thriving business means higher income, directly improving the lives of the entrepreneur, her suppliers, and employees. The maturity of business loans from InvesCore vary between 24 and 36 months with a monthly repayment of principal and interest. The monthly interest rate varies between 2.2% and 2.9% in Mongolian tugrik.
What does your investment generate?
For entrepreneurs like Davaarjargal, a business loan makes a significant difference. Check the interest rate and maturity InvesCore offers you as an investor at the top of this page. For more information about possible exchange rate risks, visit our currency page.
The story of InvesCore
InvesCore is Mongolia's largest financial institution. With financing via Lendahand, they provide business loans to their current and new customers. The main customers are small and medium-sized enterprises in the capital Ulaanbaatar, such as Davaarjargal's shop or a bakery, and agricultural businesses or farmers in the countryside. To best support the entrepreneurs, InvesCore also offers business training. InvesCore processes the loan applications of their more than 80,000 customers through their internally developed Loan Origination System (LOS). The LOS automation process collects customer information from government systems, saving customers time in gathering the necessary documents. In 2019, InvesCore held an initial public offering (IPO) relating to 15% of the total shares. Since the IPO, the share price has increased by 145%. For the future, the non-banking financial institution plans an international expansion of their activities in Central Asia and Southeast Asia. In 2021, InvesCore launched a special program that allows low-cost financing for more vulnerable customer profiles. The program is funded by Rio Tinto Mongolia LLC. The target groups are:
- SMEs implementing an environmentally-friendly project
- SMEs run by entrepreneur(s) with disabilities
- SMEs run by women entrepreneur(s)
- SMEs run by single parents
- SMEs conducting import substitution activities
InvesCore in numbers
- Founded in 2016
- Loan portfolio of 74 billion MNT (approx. 60 million USD) (end of 2021)
- 18 branches in Mongolia
- 2 subsidiaries in Kyrgyzstan
- 269 employees
- 40% of their cutsomer portfolio are SME entrepreneurs
- More than 80,000 customers
Mission
InvesCore aims to be the most reliable financial partner for their customers by delivering tailored financial products, quick services, and professionalism.
Vision
Support individuals and small and medium-sized businesses in developing countries worldwide with reliable financing.
Awards
- "Best Investor" 2018-2020 - by the Association of Mongolian NBFI
- "Excellence Service Entrepreneur" 2019 - by Forbes
- "Outstanding NBFI" 2018, 2019 en 2021 - by Mongolian Chamber of Commerce
Selskapets navn | InvesCore NBFI |
ADMINISTRERENDE DIREKTØR | Bayasgalan Dalaijamts |
Grunnlagt | 2016-03-01 |
Beliggenhet | Ulaanbaatar |
Sektor | Finansielle tjenester |
Omsetning | $13,200,000 |
Ansatte | 269 |
Kredittpoeng | A+ |
Påvirkning
InvesCore er en mikrofinansinstitusjon i Mongolia. Porteføljen er for tiden fordelt på 30 % rurale og 70 % urbane kunder. De har som mål å digitalisere forbrukerproduktene fullt ut for å kunne fokusere på bedriftslån og bli mer resultatorienterte. InvesCore har utviklet en automatisert prosess for tradisjonelle lån, som reduserer det manuelle arbeidet med 80 %, noe som fører til raskere lånebehandling og økt tilgjengelighet for entreprenører.
InvesCoreDigitaliseringsarbeidet til styrker gründere, inkludert kvinner, ved å gi enklere tilgang til finansielle tjenester, fremme likestilling mellom kjønnene og støtte veksten av små bedrifter i den lokale økonomien.
I fjor fikk over 1 200 SMB-eiere lån, og av disse var mer enn 250 kvinnelige gründere.
Tilgang til finansiering er et effektivt verktøy i kampen mot fattigdom. I tillegg til gründeren som drar nytte av lånet, merker alle som er involvert i virksomheten, den positive effekten av finansieringen. Når en bedrift kan vokse, øker gründeraktiviteten, og det skapes arbeidsplasser. Dette fører til mindre utvandring og gir folk mulighet til å forbedre levekårene sine.
BMs Påvirket
Med dette prosjektet bidrar du til følgende mål for bærekraftig utvikling:
BM 1 - Ingen fattigdom
BM 8 - Anstendig arbeid og økonomisk vekst
Les mer om påvirkningen du kan gjøre gjennom plattformen vår og BMs på vår side om påvirkning.
Relaterte blogginnlegg
- Les mer om InvesCore i deres introduksjonsblogginnlegg.
- Vil du lære mer om hvordan økonomisk inkludering kan fremme entreprenørskap? Les mer her.
- Lurer du på hvilke andre mikrofinansinstitusjoner vi har i porteføljen vår? Sjekk dem ut her.
- Med denne investeringen skapes 10 arbeidsplasser
- Med denne investeringen får 67 bedre liv