Loans

Job support loans

A loan for small and medium-sized enterprises and service providers to create working capital and maintain jobs for your business operations.

Benefits

To maintain the borrower’s employment, to provide the working capital necessary for the stability of the business, and to refinance loans from banks for the same purpose.

Terms and conditions

Conditions	Job support loans
Amount of loan	Up to 500,000,000 MNT
Loan interest /annual/	3%
Loan term /month/	Up to 36 months
Service fee	In the case of a new loan, it will not exceed 1 percent of the amount of the loan amount or 1,500,000 MNT
Increased interest	The increased interest rate is equal to 20% of the principal interest rate
Application Fee	30,000 MNT
Other	Other requirements and conditions of the Bank of Mongolia
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Requirements

An enterprise operating in the territory of Mongolia;
The period of business activity is more than 1 year;
The property from the bank must have met the requirements of the property;
As a legal entity, the shareholder has not changed since the issuance of the Government Resolution, February 17, 2021;
Must be registered as a registered taxpayer or exempt from increased cost tax;
In the case of a loan secured by with insufficient mortgages, meet the requirements specified in sections 4.1.1 and 7.1 of the Law on the Support of Small and Medium Enterprises and Services;
Other requirements
Other requirements set by the bank in accordance with the implementation of this agreement within the framework of credit operation procedures and instructions.

Eligibility or required documents

Business introduction;
Special license to operate;
The original copy of the identity card, if it is not possible to bring the original, a notarized copy and a photocopy of the last 6 months;
Proof of income and expenses;
Documents certifying the purpose of the loan and agreements concluded in connection therewith;
Documents confirming the credit history of the last 3 years, loan agreement and payment documents.
Additional materials required by the bank