InvesCore NBFI 14
At the outskirts of Ulaanbaatar, The WoodBros are making a name for themselves with their unique wooden world maps. With a loan from InvesCore, they bought a laser engraving machine, significantly boosting their production capacity. By investing in InvesCore, you support the growth of 20 businesses in Mongolia.
O projeto
Please note: This project has a grace period. After 12 months, you will receive your first repayment of your investment, and thereafter, you will receive a repayment every 6 months.
From their workshop in Ulaanbaatar, The WoodBros carefully add a touch of artistry to Mongolian interiors. In 2017, they began hand-cutting and engraving wooden world maps, symbolic of their customers' travels and dreams. Their dedication and craftsmanship quickly caught attention, but the real change came in 2022. Thanks to funding from InvesCore, they elevated their business: renting a garage on the city's outskirts and purchasing a laser engraving machine. This enabled them to accelerate production and push their creative boundaries.
During peak periods like Christmas, The WoodBros' team expands with temporary workers. This not only increases their capacity but also provides employment within the local community. What once started as a hobby is now their full-time passion and profession.
The success story of The WoodBros underscores the need for working capital among small and medium-sized entrepreneurs in Mongolia. InvesCore offers business loans with flexible terms and monthly repayments to help entrepreneurs grow and improve the lives of themselves, their suppliers, and their employees.
What social return could your investment make?
InvesCore recognises the important role small and medium-sized enterprises (SMEs) play in Mongolia's socio-economic landscape. Representing approximately 86% of all active legal entities in Mongolia, these SMEs are fundamental to job creation, poverty reduction, and community empowerment (National Statistical Office (NSO) of Mongolia, 2019). Yet, many entrepreneurs, especially women, face considerable financial barriers.
To bridge this gap, InvesCore has introduced innovative fintech services to democratise access to funding. Their automation of the traditional loan process has not only reduced 80% of manual work and potential errors but also expanded their reach. In 2021, this led to over 1,200 SME owners, of which more than 250 were female entrepreneurs, securing business loans. By investing in InvesCore, you facilitate the disbursement of loans to 20 SMEs in Mongolia.
What financial return could your investment generate?
- Annual interest rate 6.5%
- Maturity of 24 months
- Grace period: This project has a grace period. After 12 months, you will receive your first repayment of your investment, and thereafter, you will receive a repayment every 6 months.
- With an investment of 1,000 euros, your expected total repayment would be 1,098 euros.
The story of InvesCore
InvesCore is the largest financial institution in Mongolia. They provide business loans to SMEs in Ulaanbaatar and agricultural businesses in rural areas. They also offer business training to support entrepreneurs.
With their own Loan Origination System (LOS), they process loan applications from over 80,000 clients, saving time. After a successful IPO in 2019, where 15% of the shares were sold, InvesCore plans an international expansion into Central Asia and Southeast Asia.
In 2021, InvesCore launched a program, supported by Rio Tinto Mongolia LLC, offering financing at lower costs to vulnerable clients, such as SMEs selling eco-friendly products, entrepreneurs with disabilities, female entrepreneurs, single-parent business owners, and companies conducting import substitution activities. The aim of this program is to improve access to financing and promote sustainable economic growth and inclusivity in the community.
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 customer portfolio are SME entrepreneurs
- More than 80,000 customers
InvesCore NBFI
Impacto
InvesCore é uma instituição de microfinanciamento na Mongólia. A sua carteira está atualmente dividida entre 30% de clientes rurais e 70% de clientes urbanos. O seu objetivo é digitalizar totalmente os produtos de consumo para concentrar toda a sua atenção nos empréstimos às empresas e tornar-se mais orientada para o impacto. InvesCore desenvolveu um processo automatizado para empréstimos tradicionais, que reduz o trabalho manual em 80%, levando a um processamento mais rápido dos empréstimos e a uma maior acessibilidade para os empresários.
InvesCoreOs esforços de digitalização do Banco de Portugal capacitam os empresários, incluindo as mulheres, proporcionando um acesso mais fácil aos serviços financeiros, promovendo a igualdade de género e apoiando o crescimento das pequenas empresas na economia local.
No ano passado, mais de 1200 proprietários de PME receberam empréstimos comerciais, dos quais mais de 250 eram mulheres empresárias.
O acesso ao financiamento é um instrumento eficaz contra a pobreza. Para além do empresário que beneficia do empréstimo, todos os que estão envolvidos na sua empresa sentem o efeito positivo do financiamento. Quando uma empresa pode crescer, a atividade empresarial aumenta e são criados postos de trabalho. Isto leva a uma diminuição da emigração e dá às pessoas a oportunidade de melhorar as suas condições de vida.
ODS impacto
Com este projeto, está a contribuir para os seguintes Objectivos de Desenvolvimento Sustentável:
ODS 1 - Erradicação da pobreza
ODS 8 - Trabalho digno e crescimento económico
Leia mais sobre o impacto que pode causar através da nossa plataforma e de ODS na nossa página de impacto.
Publicações no blogue relacionadas
- Saiba mais sobre InvesCore no seu blogue de apresentação.
- Quer saber mais sobre como a inclusão financeira pode favorecer o empreendedorismo? Leia aqui.
- Quer saber que outras instituições de microfinanciamento temos na nossa carteira? Veja-as aqui.
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