Working capital loan
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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Amount Up to 20 percent of the Bank’s capital shall be calculated in MNT or its equivalent in foreign currency Interest rate* (yearly) MNT 16.80% – 20.40% USD 8.40% – 13.20% Annual percentage rate (yearly) MNT 17.52% – 21.14% USD 9.09% – 13.91% Term Up to 36 months Loan application fee 10,000 MNT Service fee 0.50% – 1.00% / Take once from the approved loan amount/ - If the term is up to 12 months, it is equal to 0.5 percent of the approved loan amount
- If the term is more than 12 months, it is equal to 1.00 percent of the approved loan amount
- 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
For citizens:
- A copy of the notarized citizen identification card (applies to a person whom the loan is jointly received)
- Loan request
- Loan application (From the banking sector)
For entities:
- 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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