Loans to support woman entrepreneurs
This loan is designed to finance working capital requirements of small and medium businesses for purchasing inventory, increasing business income, and improving the quality of product and services.
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Loan amount Up to 100,0 million MNT Interest rate (yearly) 14.40% – 16.80% Annual percentage rate (yearly) 15.11% – 17.52% loan currency MNT Loan term (monthly) 36 months /maximum term/ Collateral - 1-12 months: Account income
- 13-24 months: Equipment, inventory
- 25-36 months: Movable and immovable property
Service fee 0.50% (of the approved loan amount) Payment for amending the loan agreement 1.00% (one time from the loan balance) Application fee 10,000 MNT insurance Depending on the type of collateral, you are covered by insurance Payment schedule The basic monthly payment is equal Terms of exemption from principal payment Up to 1/3 of the total loan term or up to 12 months - Be a Mongolian citizen or an entity registered in Mongolia that runs business operation in the territory of Mongolia
- Been stably running the business in the last 12 months and continue to pursue it
- Satisfy the financial ratios at an appropriate level as it is the bank criteria
- Collaterals shall meet the bank’s collateral requirements
- Shall not have any outstanding past due loans
- Shall not have any history of loans from banks and NBFIs classified as non-performing
- Others
Additional criteria:
Business entity: /Must meet one of the following criteria/
- The executive should be a woman
- More than 51.0% of the company is owned by women or women
- At least 30% of board members and management should be women
- More than 51.0% of partnership / cooperative members are women and the head of the cooperative is a woman
- At least 50.0% of all employees are women
- Loan Application
- State registration certification of business entity and company charter
- Special operations license
- Resolution from Board of Directors, and minutes of Shareholders’ meeting evidencing the authorization of loan application
- Original or notarized copy of ID card of the authorized personnel and 1 passport-sized photo taken within the last 6 months
- Documents of the property to be pledged as collateral
- Audited financial statements, financial statements confirmed by the taxation office, and other documentation for proof of income and expense
- Documents evidencing the intended use of the loan, related agreements
- Proof of loan history, loan agreements and payment records of the past 3 years
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