Labor Support Fund Loan
The purpose of the loan:
The “Labor Support Fund Loan” is designed to support job creation and will entail two types of loans-small loan and leasing loan. Implemented in collaboration with Labor and Welfare Service Office, the loans are made available for unemployed individuals, herders and self-employed individuals who wish run a family-based business or a cooperative and entities.
Project implementing area: All branches in local areas and selected branches in UB /Bagakhangai, Baga Toiruu, Selbe, Dari-Ekh, Darkhan-Plaza, Dragon, Uildver Kombinat, Baganuur/
Loan terms:
| № |
Loan type |
Loan amount |
Loan term |
Interest rate /monthly/ |
| 1 |
Small loan |
Up to MNT 5 million for individuals
Up to MNT 10 million for cooperative and entities |
Up to 12 months |
1.25%* |
| 2 |
Leasing loan |
Up to MNT 1 million |
*The interest payments can be reimbursed subject to satisfactory performance of the project and fulfillment of loan repayment obligations.
Eligibility requirements for the applicants:
- Must present a business plan for the proposed project
- Must obtain a reference letter from Labor and Welfare Service Office that states the project is feasible
- Must have attended a relevant training provided by Labor and Welfare Office that provides business or special skills and have negotiated beforehand with supplier on purchase of a product on credit and have the invoice in place. /in case of leasing loan/.
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