Credit Guarantee Fund Secured Project Loan
Project loans are provided with guarantees to small and medium-sized enterprises that lack collateral.
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Investment loan Working capital loan Loan amount Up to 2.0 billion MNT Interest rate /yearly/ 10.27%-12.34% Loan term Up to 60 months Up to 36 months Commission fee Payment for amending the loan agreement 0.30% (Will be deducted once from the loan balance) Application fee 10,000 MNT Grace period Up to 6 months Up to 3 months CGF – Guarantee amount Up to 1.2 billion MNT Credit Guarantee Fund 30%-60% CGF application fee 50,000 MNT CGF Fees 1% of the outstanding guarantee balance, paid annually Insurance Insurance will depend on the type of collateral - SME Certification
- 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
- There must be no proven violations of previously obtained guaranteed loans for improper use /this does not apply if 1 year has passed since the loan was repaid/;
- Others
- 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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