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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 |
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Loan interest rate /annual/ |
10.50% / Repo trading interest rate + not more than 4 percentage points / |
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Loan interest rate /monthly/ |
Up to 2 years |
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Service fee |
In case of a new loan, it shall not exceed 1 percent of the loan amount or MNT 1,500,000 |
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Penalty interest rate |
Penalty interest rate is equivalent to 20 percent of the base interest rate |
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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 procedure/ |
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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Category: Small and Medium Business loan-Repo
Loan product to support small and medium enterprises and non-mining export companies.
Categories
Requirements
- To 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.
- 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 /