Categories
Trade credit line

Benefits

  1. Flexible and favorable terms
Categories
Trade credit line

Terms and conditions

Trade credit line

MNT USD EUR RMB

JPY

Credit maximum

Depends on the size of the business, capital, financial capacity, and trade turnover.

Commercial credit line opening service fee / no service fee is charged for opening a line backed by term deposit as collateral /

1% of the line amount up to a maximum of  1,500,000 MNT 1% of the line amount up to a maximum of  1,000 USD 1% of the line amount up to a maximum of  1,000 EUR 1% of the line amount up to a maximum of  5,000 RMB

1% of the line amount up to a maximum of  5,000 JPY

Commitment fee/ annually/

0%-2.0%

Term of trade credit line

Up to 60 months

Fee for changing the original loan terms

0%

Application fee

30,000 MNT  10 USD 10 EUR 100 RMB

1,000 JPY

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Corporate- 1,000 MNT

Note:

– If the interest rate of the external source line is 0%, the customer’s commercial loan interest rate may be 0%.

 

Pre-shipment loan terms:

Pre-shipment loan terms

MNT USD EUR RMB

JPY

Maximum amount

Within the credit lines, the amount of trade agreements and transactions shall not be exceeded

Interest rate /annually/

Source cost + 2.0% -4.0%

Loan term (depending on product turnover)

Up to 60 months

Service fee

0%

Application fee

30,000 MNT

Full and partial prepayment fee

According to the terms of the foreign bank interest rate

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Corporate- 1,000 MNT

Note:

The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.

 

Categories
Trade credit line

Post-shipment loan terms:

Post-shipment loan terms

MNT USD EUR RMB

JPY

Maximum amount

Within the credit lines, the amount of trade agreements and transactions shall not be exceeded

Interest rate /annually/

Source cost + 2.0% -4.0%

Loan term (depending on product turnover)

Up to 60 months

Service fee

0%

Application fee

30,000 MNT

Full and partial prepayment fee

According to the terms of the foreign bank interest rate

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Corporate- 1,000 MNT

Note:

The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.

Categories
Trade credit line

Requirements

  1. Running the business in the last 12 months and continuing it as a going concern
  2. Good credit history and score and other evidence of ability to repay the loan
  3. Collateral to satisfy the bank’s requirements
  4. Other requirements from the bank on a case by case basis
Categories
Trade credit line

Required documents

  • Official request/amount, interest, term and collateral pledged should be mentioned/
  • Loan Application / Bank’s application / 
  • Resolution of the Board of Directors 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 (founders, CEO, CFO, etc.), borrower’s application form (if legal entity)
  • Business licenses, plans and other documents
  • The purpose of the loan, contract, project, etc.
  • The market and competitor’s analysis
  • Tax reference
  • GCCA reference / in the name of the organization and shareholders /
  • Reference from GASR / on behalf of enterprises and major shareholders /
  • Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
  • Financial statements at the end of the year. These include: list of receivables, current assets, fixed assets, payables and liabilities and sales, unit cost, balance sheet for the last 1 year
  • Account statement / last 12 months /
  • Pledge of immovable property (if the pledged property is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution authorizing to pledge)
  • Collateral historical and detailed reference
  • Pledged land 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 outstanding loans with other banks and NBFIs.
  • Other required additional materials