Gray water loan
Loan product for investment in the construction of preliminary treatment facilities, purchase and installation of water reuse equipment
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Type Gray water loan Loan amount Up to 10.0 billion MNT Interest rate /yearly/ 14.40%-16.80% Annual percentage rate /yearly/ 15.39%-18.16% Loan term 84 months Collateral Must provide collateral according to the bank’s requirements Commission fee 0.50% (Will be deducted once from the approved loan amount) Payment for amending the loan agreement 0.30% (Will be deducted once from the loan balance) Application fee 10,000 MNT Insurance Insurance will depend on the type of collateral Grace period 1/3 of the loan period or up to 24 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 24 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:
- The purpose of the loan must be to protect water resources, use water efficiently, reduce water loss, increase wastewater reuse, etc
- Must meet external source requirements
- The business activity must not be included in the “List of Prohibited and Warning Activities” specified in the Golomt Bank’s ESRA Regulations
- Must meet green criteria (measurement, verification)
- Loan form
- Certificate of state registration of the organization, Articles of Association, and introduction
- Operation license
- Board of directors’ approval of the loan, minutes of the shareholders’ meeting
- Original ID card of the authorized official, or if it is not possible to bring the original, a notarized copy, and a photo of the last 6 months
- Collateral documents
- Audit and tax reports and other income and expense documents
- Documents confirming the purpose of the loan and related agreements
- Other
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