Loan services

Loan for Women-owned Micro Businesses

This loan is for TransBank’s POS merchant individuals and business entities with no requirements of fixed collateral.

Benefits

Does not require collateral (no immovable property nor automobile is required)
Prompt solution in short period of time.
No loan application fee.

Terms and Conditions

Terms and Conditions	Loan for Women-owned Micro Businesses
Loan amount	MNT 30 million /maximum loan amount to 60% of average sales revenue for 6 months/
Loan term	Up to 12 months
Interest rate /monthly/	1.60%-1.80%
Interest rate /annual/	19.20%-21.60%
Loan application fee	MNT 0
Commitment fee /annual/	2.8%

* Effective percentage rate /annual/: 19.81%-21.61%

Requirements

Individuals shall be a female entrepreneur;

The legal entity shall meet one of the following requirements:

• More than 51% of the company’s shares are owned by female shareholders;

• To have a female CEO or General Director;

• At least 50% of all employees are women /Legal entity shall be led by a female entrepreneur/

Evidence of running the business in the last 12 months and continuing to pursue it as a going concern and TransBank POS device shall be used for at least 6 months.

Required documents

• 1 passport-sized photo

• Account statement /last 6 months/;

• Inventory information;

• If you have a loan balance with other banks and NBFIs, loan agreement and loan account statement;

• Other required documents, if necessary.