THE CUSTOMER, ALTANTSETSEG S, CHAIRWOMEN OF THE BOARD OF DIRECTORS, NARAN PETROLIUM LLC: OUR SALES REVENUE WAS INCREASED 2-3 TIMES MORE AND OPERATION IS BEING DEVELOPED

 

In the last 10 years, I worked as a CFO and from 2014 to 2016 as a CEO at Mongolian Mortgage Corporation LLC (MMC) and since 2017, I have established a private company of my own called “Naran Petrolium”.

Even though I have gained all the necessary business experiences, financial knowledge and skills when running a business during my time at MMC, one of the top 5 leading companies in Mongolia, my newly established company had some issues when it came to acquire sufficient funding. Our very first current asset loan was granted by TransBank and in terms of loan issuance period, interest rate and collateral requirements, the banks’ decision making process was prompt and offerings were flexible and favorable compared to other banks.

When newly established companies request for bank loans, they are required to present their 5-10 year business plan and specific goals. Also, it is important that the company’s operation and detailed financial and cash flow plans are carefully reviewed and analyzed by the risk management team.