Author: admin

Terms and conditions

Financial institute loan	MNT	USD	EUR	CNY	JPY
Loan amount	The maximum loan amount is determined depending on the size of the business, assets and financial ability. The amount of financing from the bank shall not exceed 80% of the total working capital
Loan interest /month/	2.0%-1.6%	1.35%-1.0%	1.35%-1.0%	1.35%-1.0%	1.35%-1.0%
Loan interest /annual/	24.0%-19.2%	16.2%-12.0%	16.2%-12.0%	16.2%-12.0%	16.2%-12.0%
Term of loan	Up to 36 months
Service fee	1% of the loan amount or the maximum amount is 1,500,000 MNT	0.5% of the loan amount or the maximum amount is 1,500 US dollars and the equivalent in EUR, CNY and JPY
Increased interes	The increased interest rate is equal to 20% of the principal interest rate
Benefits of Changes to the Original Loan Term	0%
Period of exemption from principal	Up to 12 months
Application Fee	30,000 MNT
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.9%-24.7%

Loan application letter;
Loan application /from Bank/;
Resolution of the Board of Directors/Shareholders’ Meeting/ on taking a loan. /The decision specifying the requested loan amount, interest rate, term, and collateral and appointing the person authorized to sign/;
A copy of the certificate and charter must be certified by a notary;
Copy of identity card of the person authorized to sign the loan agreement / founders, general director, executive director, etc., borrower’s resume;
Special licenses, business plans and other documents related to business activities;
References /in the name of Organization and major shareholders/;
Other Required documents;

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.

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

Actual cost /annual/: 3.2%

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.

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

Home

Set by the Bank of Mongolia, which provides repo financing sources;
As provided in Articles 4 and 5 of the Law on the Support of Small and Medium Enterprises and Services, citizens and industrial units with up to 200 employees and up to 2.5 billion annual sales revenues are eligible;
Non-mining exports, manufacturing, services*, wholesale or retail trade with 200 or more employees;

Home

Before and after the shipment:

The cost of resources includes the tax costs associated with the attraction of external resources, interest and non-interest costs, and the cost of mandatory reserves.

Trade credit line	MNT	USD	EUR	CNY	JPY
Loan amount	Determined depending on business scale, capital, financial ability and trade turnover.
Trade credit line opening service fee	Line 1% of amount or up to 1,500,000 MNT	Line 1% of amount or up to 1,000 USD	Line 1% of amount or up to 1,000 EUR	Line 1% of amount or up to 5,000 CNY	Line 1% of amount or up to 5,000 JPY
Commitment interest (annual)	0%-2.0%
Loan term	up to 60 months
Fee of change to Credit Line Agreements	0%
Application fee	30,00 MNT	10 USD	10 EUR	100 CNY	1,000 JPY
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT