Repo financing loan
Its purpose is to support individuals and businesses doing business in approved sectors and to preserve jobs.
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Loan sector - SME sector
- Non-Mining export sector
- Manufacturing industry, Trade & Services sector
Loan amount Up to 3.0 bililion MNT Interest rate (yearly) 10.00% Annual percentage rate (yearly) 11.00% Loan currency MNT Term /Monthly/ 26 months /maximum term/ Collateral Have collateral that meets the bank’s requirements Service fee 1.00% of the approved loan amount Application fee 10,000 MNT Term of exemption from principal payment At least 6 months - Must be legal entity (SMEs can be citizens);
- If trade/retail sector, it should be an enterprise with 200 or more employees that engaged in wholesale and retail trade;
- The entity must be founded in accordance with the related Mongolian laws;
- Must operate in Mongolia;
- Must have been in business for more than 1 year;
- Must have operated the business for the last 6 months (Does not apply if the operation was interrupted due to the Covid-19 pandemic);
- Other entities affiliated with the burrower must not have non-performing loans;
- Must meet other banking criteria.
- Loan application
- Handwritten application / Resolution and permission of the shareholders meeting /
- Breakdown of loan disbursements
- Rules, certificates and licenses
- ID card
- Brief introduction of the business
- Financial statements and references certified by the tax authority / last 1-2 years /
- Account statements of main and co-borrowers
- Account details / Detailed breakdown of receivables, payables and inventory /
- Loan agreement and loan account statement from other banks
- Copy of collateral certificate