Financial leasing
Financial leasing is designed to extend your business operations during financial leasing agreement through using equipment and machinery that are economically beneficial and required for business operations.
Terms of financial leasing:
|
|
MNT
|
USD
|
|
Lease amount
|
The lease amount will depend on business scope, capital and financial capacity
|
|
Interest rate
|
2.2-1.5 % per month
|
2.2-1.2% per month
|
2.2-1.4% per month
|
|
Lease term
|
from 6 to 60 months
|
from 6 to 24 months
|
from 25 to 60 month
|
|
Downpayment
|
15-40% of lease amount
|
Fees:
Lease application fee: 15,000 MNT 15 USD
Lease item requirements:
- Lease item shall be chosen from the list of Vendors who concluded cooperation agreement with the Bank,
- lease item Imported through intermediary or Lessee shall not exceeded 1 month from import date,
- Lease item shall be either brand new or used in foreign countries not used in Mongolia,
- Lease item shall meet the environmental laws, regulations and standards of Mongolia,
- Lease item shall meet the purpose and nature of Lessee’s business operation and shall bring economic benefit,
- Lease item shall not be regarded as an asset of consumer nature. For instance: cars (of up to 5-tons in capacity); motorcycles, household electronic appliances, cell phone etc.
Requirements to Lessee:
- Applicant shall choose lease item that complies with Khan Bank’s requirement,
- Able to service financial lease and interest payments from net cash inflow from the business;
- Capable of making the down payment of lease item;
- Have prior experience in the field or have at least 1-year of business experience;
- Have trained personnel capable of operating the lease item;
- Able to provide guarantee or additional collateral, when necessary;
- Operate in the local area where Khan Bank branch/sub branch is located;
Required documentation:
- Passport photo 1 copy;
- Proof residency;
- Invoice from Vendor on lease item;
- Lease item description from Vendor;
- Copy of customs declaration for imported lease items;
- Copy of down payment invoice slip;
- Leased item shall meet the environmental laws, regulations and standards of Mongolia;
- Lease item use operation plan, environmental impact assessment;
- Proof of income;
- Documentation for additional collateral, permission of co-owner if necessary;
- Inquiry from Immovable asset right registration division of General authority for state registration and evidence proving no dues from Capital, soum, district land agency in regard of immovable assets;
- Loan documents with regard to previous loans from banks and NBFI’s, if any;
- Other.
|
