AGREEMENT SECURED LOAN – ERDENET MINING SOE
Designed for businesses that work with Erdenet Mining Corporation SOE. Eligible businesses may obtain financing by pledging future receivables under their contracts for goods, works, or services.
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AGREEMENT SECURED LOAN – ERDENET MINING SOE Conditions Original supplier Repeat supplier Loan amount Up to 50 percent of the contract value Up to 70 percent of the contract value Interest rate /yearly/ 16.80% – 21.60% Actual cost of loan /year/ 18.16% – 23.87% Loan tenor Up to 12 months Loan disbursement fee 0.5% (Calculated from the loan amount and charged once.) Fees charged when changing terms and conditions 0.30% (Based on the outstanding loan amount and charged for each change.) Application fee 30,000 MNT Collateral Depending on the loan amount, additional collateral that meets the bank’s requirements - Be a registered business entity in Mongolia
- Be a supplier of Erdenet Mining SOE
- Have a valid contract with Erdenet Mining SOE for the provision of goods, works, or services
- Have agreed to receive payments under the contract to the Golomt Bank account
- Meet other additional requirements of the bank
- Loan application number
- Business activity profile
- Certificate of state registration of the legal entity, charter, /if it is not possible to bring the original, a copy must be notarized/
- Decision of the board of directors meeting on obtaining a loan and pledging collateral /in the absence of a board of directors, a decision of the shareholders’ meeting/
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