Category: Job support loans

This loan is designed to provide working capital necessary for small and medium-sized manufacturing and service businesses to maintain stable operations and preserve jobs.

Categories
Job support loans

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.
Categories
Job support loans

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

Actual cost /annual/: 3.2%

Categories
Job support loans

Requirements

  • An enterprise operating in the territory of Mongolia;
  • The period of business activity is more than 1 year;
  • The collateral must meet the bank’s requirements;
  • 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 value-added 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.
Categories
Job support loans

Eligibility or required documents

  • Business profile / company 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