Micro-Enterprise Loan
Micro-Enterprise Loan
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Purpose
Business loan secured by real estate to finance the current assets of small businesses such as stalls, containers, pavilions and workshops.
Service fee | 0.5% of Loan amount |
- Works in a production and service industry and have to enough experience /More than 3 years’ experience/
- One member of the family can become a co-borrower and should meet the requirements for borrowers.
- The license should be obtained from the relevant authority and other documents met the requirements of the law
- Must have repayment proof
- Should have satisfactory collateral
- Don’t have to bad credit history on Mongolian Loan Database
- Others
An individual
- ID /registration number/ of applicant and co-borrower
- 1 copy of portrait photo
- Co-owner’s permission (if have co-owner)
- Document for proof of income
- Collateral certificates
Organization
- ID card of the person authorized to sign the loan agreement (Founder, CEO, Executive Director etc.)
- Business privilege license
- Organization’s certificate of registration
- Documents of collaterals
- Financial statement and bank account statement.
Loan request condition
Loan amount | Up to 10 million MNT |
Interest rate (monthly) | 3.5-4.0% |
Loan term | 1-12 months |
Service fee | 0.5% of Loan amount |
Application fee | 10.000 MNT |
Requirements
- Works in a production and service industry and have to enough experience /More than 3 years’ experience/
- One member of the family can become a co-borrower and should meet the requirements for borrowers.
- The license should be obtained from the relevant authority and other documents met the requirements of the law
- Must have repayment proof
- Should have satisfactory collateral
- Don’t have to bad credit history on Mongolian Loan Database
- Others
Loan request document
An individual
- ID /registration number/ of applicant and co-borrower
- 1 copy of portrait photo
- Co-owner’s permission (if have co-owner)
- Document for proof of income
- Collateral certificates
Organization
- ID card of the person authorized to sign the loan agreement (Founder, CEO, Executive Director etc.)
- Business privilege license
- Organization’s certificate of registration
- Documents of collaterals
- Financial statement and bank account statement.
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