Mercy Corps project loan

The purpose of the loan:
A loan for working capital and farming equipment financing offered to herder groups, collectives and rural business owners covered by the Rural Agrobusiness Support Program and Gobi Initiative. Khan bank is disbursing the loan in partnership with Mercy Corps. 

Project implementation area:
Arkhangai, Bayankhongor, Gobi-Altai, Gobi-Sumber, Dornogobi, Dundgobi, Zavkhan, Sukhbaatar, Uvurkhangai, Omnogobi, Uvs

Loan conditions:

Amount:           MNT 500,000-20,000,000
Interest rate:   2.0-1.3% (24-15.6% per annum)
Tenor:              3-24 months    

Eligibility requirements for the applicants:

• A reference from Mercy Corps that confirms the enrollment in the project /use F form/
• Each applicant is required to develop a business loan with the assistance from Mercy Corps