Interest Split Sustainable & Green Business Loan
A green loan is a form of financing that enables borrowers to use the proceeds to exclusively fund projects that make a substantial contribution to an environmental objective.
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Investment loan Working capital loan Type The purchase must be made from contracted suppliers of Golomt bank Loan amount 10 Billion MNT 5 Billion MNT Intrerest rate *(yearly) 14.40% – 16.80% 14.40% – 16.80% Annual percentage rate (yearly) 14.74% – 17.15% 15.10% – 17.51% Discounted interest of contracted suppliers Contracted suppliers discount rates and terms may vary depending on the selling price policy. loan currency MNT MNT Loan term (monthly) Up to 84 months Up to 30 months Collateral Have collateral that meets the banks requirements Service fee 0.50% (of the approved loan amount) 0.10% (of the approved loan amount) Payment for amending the loan agreement 0.30% (one time from the loan balance) Application fee 10,000 MNT *Free of charge for loans ever 100,0 miilion MNT (0.00%) insurance Depending on the type of collateral, you are covered by insurance Grace Period Up to 1/3 of the total loan term or up to 24 months 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
- The purchase must be made from contracted suppliers of Golomt bank
- Others
Additional criteria:
- The main business activity must be included in the Green Taxonomy of the Bank of Mongolia;
- The main business activity and purpose of the loan must be “low risk” according to the environmental, social and environmental risk assessment of the Bank.
- The Green requirements of the Bank’s internal procedure for environmental, social and environmental risk assessment have been met depending on the level of risk.
- Lending activities are not included in the “List of Prohibited and Warning Activities” specified in the Bank’s environmental and social risk assessment procedure.
- 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
- Others
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