Heavy machinery and Equipment loan
Heavy machinery and equipment leasing loan finances purchase of mining, construction, road-construction, agriculture machinery and equipment.
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Loan amount Up to 2,0 billion MNT Downpayment and Loan term - 6–24 months for 20% payment
- 25–48 months for 30% payment
- 49–60 months for 40% payment
Interest rate /yearly/ MNT 16.80% – 20.40% USD 8.4% – 15.60% Annual percentage rate /yearly/ MNT 17.26% – 20.88% USD 8.82% – 16.06% Commission fee 1.00% of the approved loan amount Collateral - Equipment purchased on credit
- Additional collateral may be required if required
- Formal request
- Company certificate, notarized copy
- Company charter, notarized copy
- Audited financial statements of last 1-3 years
- Reference letter from correspondent bank, tax office
- Management, financial official’s ID, passport, notarized copies, filled out bank registration form
- License pertaining to operations using leased item
- Business proposal
- Stock population information from Mongolian Stock Exchange /if listed/
- Current loans, repayment schedules
- Collateral documents /if necessary/
- Leasing item invoice and other related documents
- Other documents
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