Categories
Cashmere processing working capital loan

Terms and conditions

ConditionMNT
Maximum loan amountThe maximum loan amount will be determined depending on the size of the business, its assets, and financial capacity.
Term of loanUp to 24 months
Loan interest /annual/7%
6% /Green loan/
Service fee1% of the loan amount or the maximum amount is 3,000,000 MNT
Penalty interest20% higher than the regular interest rate
CollateralSubject to the bank’s internal policies, and up to 50% of the collateral requirement may be fulfilled with the borrower’s warehouse inventory, export contracts, or future sales revenue.
Fee for changes to the original loan terms0%
Application Fee30,000 MNT
Grace period for principal repaymentUp to 6 months
OtherBe an enterprise with a cashmere fiber sorting facility or a factory with more advanced processing stages
Description : A working capital loan designed to finance the purchase of raw materials and auxiliary materials (up to 10% of the loan amount) necessary to maintain stable business operations for cashmere processing enterprises.

Actual cost /annual/: 7.9%-8.9%

Categories
Cashmere processing working capital loan

Requirements

  • Must be a business entity operating within the territory of Mongolia;
  • The cashmere processing enterprise must be listed in the list issued by the Ministry of Food, Agriculture and Light Industry (MOFALI).;
  • Be an enterprise with a cashmere fiber sorting facility or a factory with more advanced processing stages;
  • Must meet the bank’s required financial ratio standards;
  • Must have collateral that meets the bank’s requirements;
  • Must have no history of non-performing loans with banks or non-bank financial institutions, and no outstanding overdue loan balances;
  • Other;
Categories
Cashmere processing working capital loan

Eligibility or required documents

  • Loan application form
  • Business-related documents (licenses, certificates, company charter, etc.)
  • Financial statements and related financial documents
  • Loan agreements and statements from other banks or financial institutions (if applicable)
  • Documents related to the activities to be financed by the loan
  • Collateral-related documents
  • Others