PROJECT LOAN

General terms and conditions: 

  • Loan amount - up to 30mln MNT
  • Interest rate per annum - 10%
  • Term - up to 24 months

Definition:

This loan is designated to herders, self-employed individuals, and individuals establishing cooperative and micro business having a sustainable operation to meet their financial needs. The number of workplace (job) that will be created as well as current number of workplace shall be considered in granting the loan.   

Requirements for borrower:

  • Project proposal written by loan applicant must be supported by Labor and Welfare Department of the concerning district and must obtain a Reference letter about creating new workplace.
  • Must obtain Reference letter on employment from Labor and Welfare Department of concerning district or province if borrower is self-employed.
  • Must be resided at least 6 months in the province currently living and must be self-employed or private business.
  • Requirements indicated in regulations on Business loan and Herders loan.

Required documents:

  • Application containing information such as purpose, amount, term of loan and source of repayment.
  • Written project proposal on activities to be implemented.
  • Reference letter from Labor Department of the concerning district or aimag regarding creation of workplace.
  • Copy of certificates if loan applicant participated any business related training organized by business or educational centers and got consultancy service from professional agencies.
  • Application containing information such as purpose, amount, term of loan and source of repayment.
  • Depending on purpose of the loan, required documents must be completed as indicated in regulation on Business loan and Herders loan. 
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