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MonSEFF | credit line mongolia Loan Application Procedures

Loan Application Procedures

Application procedures The procedure to apply for a  loan involves just three simple steps.

Projects must be screened for technical eligibility by the MonSEFF Team, while local Partner Banks perform an initial credit review.

The client is expected to sign a Letter of Engagement at this point.

The technical team will calculate the proposed investment’s achievable benefits on the basis of annual estimated savings of energy based on fossil fuels.

Support will be given to applicants to help them provide sufficient information including equipment performance data, operating assumptions, and measurements, calculations and models to support the energy savings estimates.

The team will also work with the applicant to recommend equipment that meets desirable standards at the lowest cost and availability in Mongolia.

Following the MonSEFF assessment, the loan application follows the normal bank procedures.

Typically the whole process from application to approval of funding takes 2 -3 months.

Application proceduresTo apply for a loan, simply contact one of the Partner Banks or the MonSEFF team directly with all documents relevant to your investment that you have available.

Projects must be screened for a preliminary technical eligibility by the MonSEFF Team, while the local Partner Bank will perform an initial credit review.

If both conditions are positive, at this point, the client is expected to sign a Letter of Engagement.

Application proceduresThe MonSEFF expert will assess the eligibility for financing your project under MonSEFF based on the information provided.

The technical team will calculate the proposed investment’s achievable benefits on the basis of annual estimated savings of energy based on fossil fuels. Support will be given to applicants to help them provide sufficient information including equipment performance data, operating assumptions, and measurements, calculations and models to support the energy savings estimates. The team will also work with the applicant to recommend equipment that meets desirable standards at the lowest cost and availability in Mongolia.

Where needed this may involve a site visit or request for additional information. The MonSEFF engineers might also recommend possibilities to enhance the project design to ensure a fast payback from energy cost savings.

The outcomes of the analysis performed by the MonSEFF team will be included in the Preliminary Eligibility Assessment (PEA) or, where needed, in the Full Energy Assessment (FEA).

Application proceduresIf the project is eligible, the Partner Bank will proceed with its normal credit procedures and negotiate the terms of the loan. The project will be implemented as per the conditions.

Typically the whole process from application to approval of funding takes 2 -3 months.