|
Terms |
Product terms |
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Product |
Small and medium business loans – Repo |
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Loan amount / securitization / |
Up to 3,000,000,000 / Three / billion MNT |
|
Loan interest rate /annual/ |
10.50% / Repo trading interest rate + not more than 4 percentage points / |
|
Loan interest rate /monthly/ |
Up to 2 years |
|
Service fee |
10.50% / Repo trading interest rate + not more than 4 percentage points / |
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Increased interest |
Equivalent to 20 percent of the principal |
|
Application fee |
30,000 MNT |
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Grace period |
At least 6 months |
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Other |
Other requirements and conditions of the Bank of Mongolia |
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Credit recording enquiry fee /during loan analysis process/ |
Individual – 1,000 MNT Corporate – 1,000 MNT |
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* -Product conditions will change from time to time according to the order and decision of the Bank of Mongolia. |
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Small and Medium Business loan-Repo /Export/
Loan product to support small and medium enterprises and enterprises operating in the non-mining export sector.
Terms and conditions
Requirements
- Must meet the criteria set by the Bank of Mongolia, which provides the source of repo financing;
- In accordance with Articles 4 and 5 of the Law on Promotion of Small and Medium Enterprises and Services, citizens and business entities with up to 200 employees and annual sales of up to MNT 2.5 billion are eligible;
- Non-mining exports, processing industries and services *, wholesale and retail sectors with 200 or more employees;
Click HERE to get acquainted with the criteria and requirements set by the Bank of Mongolia.
Click HERE to see more questions and answers
Required documents
- Official loan application. / Indicates the amount, interest, term and collateral of the desired loan/
- Loan application / by bank form /
- Resolution of the Board of Directors (Shareholders’ Meeting) on obtaining a loan. / Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
- Copy of company certificate, copy of company charter / stamped by state registration office /
- Copy of ID card of the person authorized to sign the loan agreement (founders, CEO, CFO, etc.), borrower’s application form (legal entity)
- Business licenses, business plans and other documents
- Information on the purpose of the loan, contract, project, etc.
- Information about the market and competitors
- Tax reference
- Definition from General Executive Agency of Court Decision on behalf of the organization and shareholders /
- Reference from GASR / on behalf of enterprises and major shareholders /
- Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
- Detailed financial statements as of the end of the year. These include: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Breakdown of sales, unit cost, balance sheet for the last 1 year,
- Account statement / as of the last 12 months /
- Pledge of immovable property (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
- Mortgage reference / historical, detailed /
- Pledge certificate, contract and cadastral map
- List and certificate of pledged machinery and equipment
- Proof of tax payment in case of real state purchase
- Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
- Other required additional materials
