“АTAR-IV” Agricultural loan
To provide new working capital loans and refinancing facilities required to support the sustainable operations of agricultural (crop production) enterprises.
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Working capital loan Loan amount Up to 15.0 billion MNT Interest rate /yearly/ Total interest rate: 17.0% /16.0% for green loans) Borrower’s share: 7.0% (6.0% for green loans) Government subsidy: 10.0% (10.0% for green loans) Loan term Up to 24 months Collateral Must provide collateral according to the bank’s requirements Commission fee 0.50% (applicable to loans with a maturity of up to 12 months) 1.00% (applicable to loans with a maturity of 12 months or more) 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 Up to 6 months - Be a Mongolian citizen or an entity registered in Mongolia that runs business operation in the territory of Mongolia
- Shall be in operation for at least the last 12 months and will continue the operation;
- 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
- The enterprise must have no outstanding debts confirmed by a valid court decision and must not have previously participated in projects or programs where contractual obligations were proven by the court to be unfulfilled.
- Must be listed in the list issued by the Ministry of Food, Agriculture and Light Industry (MOFALI), and registered and verified in the Plant.mofa.gov.mn electronic system
- Applicants for green loans must meet the bank’s green business loan criteria.
- Others
Personal
- Copy of ID card
- Loan application
- Account statement /last 12 months/
- If you have an additional loan, a copy of the loan agreement
- Other
Corporate
- 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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