Receivables Secured Loan

Loan condition

Terms and Conditions
	Loan	Credit Line
Loan amount	Up to 90% of the invoice amount	The credit line limit is determined by the highest invoice amount processed in the past year. A valid contract for the supply of products and services is required.
Loan interest	1.60% - 1.90% per month
Loan interest	Interest on unused balance: per annum 3.0% - 1.0%
Loan term	Up to 75days	Up to 12 months
Main collateral	Accounts receivable
Additional collateral	Movable assets + Immovable assets + Guarantee
Loan service fee	0.5% (If the loan amount is above MNT 5 billion: 0.3%)

Requirement

Legal Registration: Must be a legal entity registered in Mongolia with all legally compliant documentation.
Business Stability: At least 1 year of stable operations and financial solvency.
Credit History: No overdue or non-performing loans or interest debts with other banks or non-bank financial institutions.
Banking Relationship:
o Must have a current account with TDB.
o Must have an agreement to receive contract revenue through this account.
o Contracts and invoices with payment contractors must specify that account receivables are payable to the TDB account.
Additional Criteria: Must meet other requirements set by TDB.

Required document

Loan Application Letter: A formal request for the loan.
Business Information: Details about the business activities.
Company Documentation:
o Certificate of State Registration
o Company Charter (original or notarized copy if the original is unavailable).
Board Resolution:
o Resolution from the Shareholders' Meeting or Board of Directors authorizing borrowing and collateralizing company assets.
Authorized Person Documentation:
o Short resume and ID card of the authorized person (original or notarized copy if the original is unavailable).
Financial Records:
o Financial statements and proofs of income and expenses for the past 3 years, reviewed by an audit company and relevant tax authorities.
Receivables Documentation:
o Evidence of valid contracts, purchase orders, invoices, and other receivables.
Additional Requirements:
o Any other documents requested by the bank.

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