Receivables secured loan

Loan condition

	Loan	Credit Line
Loan amount	Up to 90% of the invoice amount	Credit line limit is based on the highest invoice amount executed in the last year / Must have a contract for the supply of products and services/
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 ₮5 billion: 0.3%)

Requirement

A legal entity registered in Mongolia
At least 1 year of stable operation in the field of business and to have solvency
Legal entity registered in Mongolia, along with legally complaint documents
No overdue or non-performing loans and interest debts to other banks and non-bank financial institutions
Have a current account with TDB, agreement to receive contract revenue through this account. (In the contract and invoice with the payment contractor you must state that account receivables is payable to the TDB account).
To meet other requirements set by TDB

Required document

Loan application letter
Information on business activities
Certificate of state registration, company charter / if the original cannot be brought, a copy must be notarized/
Resolution of the shareholders' meeting (Board of Directors) authorizing borrowing and collateralizing company’s assets
Short resume and ID of authorized person /if the original cannot be brought, a copy must be notarized/.
Financial statements and other proofs of income and expenses for the previous 3 years reviewed by the audit Company and relevant tax authorities.
Evidence of valid contracts, purchase orders, invoices and other receivables.
Other required documents

Санал болгох үйлчилгээ

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