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Credit line for preparation suppliers

Benefits

Flexible and Favorable Conditions

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Credit line for preparation suppliers Credit line for preparation suppliers

Terms and conditions

Credit line MNT USD
Maximum amount
Up to 3.5 billion MNT and equivalent currency
Interest rate /Monthly/ 2.0%-1.6% 1.5%-1.0%
Interest rate /annually/ 24.0%-19.2% 18.0%-12.0%
Commitment rate /annually/ 4.2%-2.8% 3.6%-2.0%
Term Up to 12 months
Service fee 1% of the loan amount /maximum MNT 1,500,000/
Penalty interest rate Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate
Fee for changing the original loan term 0%
Application fee MNT 30,000
Credit recording enquiry fee /during loan analysis procedure/ Individual – MNT 1,000    Corporate – MNT 1,000
Explanation:
A loan product that allows you to mortgage the original customs documents for cars and heavy-duty machinery that do not have a federal number.

* Effective percentage rate /annual/: MNT 19.69%-24.51%

Categories
Credit line for preparation suppliers

Requirements

  • Evidence of running the business in the last 12 months and continuing to pursue it as a going concern
  • Good credit history and score
  • Collateral to satisfy the bank’s requirements (e.g. property deeds, other fixed or moveable assets, etc.)
  • Other requirements from bank on a case by case basis
Categories
Credit line for preparation suppliers

Required documents

  • Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
  • Loan application / by the 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 (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
  • Special licenses, business plan and other documents
  • Information about the purpose of loan, contracts and agreements, projects, etc.
  • Information about the market and competitors
  • Tax authority reference
  • Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
  • Reference from State Registration Office /on behalf of enterprises and major shareholders/
  • Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
  • Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
  • Account statement / As of the last 12 months /
  • Pledge certificate of real estate (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 estate purchase
  • Loan agreement and loan account statement if you have loan balances with other banks and NBFIs.
  • Other necessary additional materials