- Does not require collateral (no immovable property nor automobile is required)
- Prompt solution in short period of time.
- No loan application fee.
Loan for Women-owned Micro Businesses
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
Terms and Conditions
| Terms and Conditions | Loan for Women-owned Micro Businesses |
| Loan amount | MNT 30 million
/Loan amount no more than 80% of the client’s total working capital/ |
| 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/: MNT 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.
