Loan secured with POS machine transaction income
This loan is for businesses that make transactions and earn income through POS machines of all banks.
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Conditions Ulaanbaatar Local Loan Amount Up to 50 million MNT Up to 30 million MNT Interest rate /yearly/ 16.80% – 21.60% Annual percentage rate 18.16% – 23.87% Term Up to 30 months Collateral - If you take a loan for a period of 1-18 months, the POS income will be used as collateral.
- Movable and immovable property is pledged as collateral for 19-30 months.
Commission charge 1.00% of the loan - All bank POS devices must be used for at least 6 months
- Experience in their field of operations of 1 year or longer
- By expiration of loan term borrower able to pay back the loan by Income from POS machine transactions
- No bad debt or bad debt history to other banks, financial institutions and individuals or entitie
- Loan request
- ID Passport
- The organization’s request
- Enterprise charter certificate
- Account statement
- Licensing
- Lease contract