You can apply for a a small business loan if you wish to invest in your business at the most flexible terms which suit your business needs.
- The size of the loan depends on your business scope and financial capacities;
- Clients with good loan history, holding current account and savings deposit accounts at XacBank will enjoy lower interest rate on loan;
- We offer flexible repayment schedule to match your business features and seasonal characteristics and give grace period of up to 24 months period;
- We can finance your additional demand with a repeat loan even if you already have an outstanding loan with the Bank.
|Loan type||Small business loan||Medium business loan|
|Loan size||from 30.0 to 300.0 million MNT||from 300.0 million to 1.0 billion MNT|
| Loan period||Working capital loan: up to 36 months|
Investment loan: up to 60 months
Credit line: up to36 months
|Interest rate||Monthly||₮: 1.40% - 1.80%|
$: 1.10% - 1.50%
|Annual||₮: 16.8% - 21.6%|
$: 13.2% - 18.0%
|Annual percentage rate||₮: 17.26% - 22.09%|
$ 13.42% - 18.23%
|Interest rate can be decreased depending on the deposit amount and loan cycle /number of loans/ of the customer.|
|Commission fee||MNT - 0.5%|
USD - 1%
|For more information:||Phone: 70110057, 70110058|
PURPOSE OF LOAN
- If you intend to start a new business, increase the working capital, and expand your business activities to increase income and revenues, we recommend you “working capital loan” .
- If you need additional financing to purchase equipment or acquire work place besides the working capital, we recommend you “fixed asset and equipment financing loan”.
- Have business income to prove your financial capacity to repay the loan;
- Have operated the business for more than 6 months;
- Possess movable or immovable properties to pledge.
- Client Application form (XacBank form, 1 copy of photo) (only for the first time loan applicants);
- Micro Loan application form; /XacBank form/;
- Copies of ID Cards;
- Business related documents / Special permits, patents, and licenses/;
- Worksite documents /rent agreement, receipts of most recent rental payments /;
- In case operational licenses are required, patents, licenses, and permits granted by authorities, and rental agreement;
- Certificate of ownership of apartments, houses and land ;
- Microloan application /XacBank form/;
- State Registration Certificate of Legal Entities (together with a notarized copy);
- Photo of the management and a copy of ID Card /only for the first time loan applicants/;
- Notarized copy of the Founding Agreement;
- A copy of Corporate Statute verified by Taxation Authorities;
- A copy of financial statement for the previous year and the last quarter verified by Taxation Authorities;
- A copy of contract and agreement on the activities to be financed by loan;
- Ownership certificates of collateral assets;