Tourism loan
The loan is intended to support entities in developing year-round tourism and expanding tourism infrastructure by providing new investment financing purposes.
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Loan amount Up to 1.0 – 3.5 billion MNT Interest rate /yearly/ Total interest rate: 18.0% Borrower’s share: 6.0% Government subsidy: 12.0% Loan term Up to 72 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 12 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
- Must have at least two employees who have completed short- and/or long-term training in tourism and hospitality
- Must be registered as a Value-Added Tax (VAT) payer
- Movable and immovable assets created using loan funds must be insured
- Must meet the requirements specific to each type of loan
- Shall not have any outstanding past due loans
- Others
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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