KhanLex assisted US-based WorldBusiness Capital, Inc. (WBC) with the final disbursement of its USD15.0 million loan to Golomt Bank, one of Mongolia’s largest commercial banks. The disbursement will provide a funding source for Golomt to support its lending to SMEs throughout Mongolia, primarily businesses in the agribusiness sector.
WBC’s loan is supported by the U.S. International Development Finance Corporation, the U.S. Government agency that helps American businesses invest in emerging markets (formerly, Overseas Private Investment Corporation).
“We are glad to have assisted WBC to successfully complete disbursement of its commercial loan to Golomt Bank.” said Enkhbat Batsukh, Partner, who led the KhanLex team on this deal. “We are also pleased that we have supported Golomt’s initiatives to expand access to capital for underbanked SMEs in Mongolia.” Enkhbat Batsukh was assisted by his colleague, Khulan Bayarsaikhan.
“We are thankful to KhanLex for helping us navigate Mongolian banking regulations and ensuring that this transaction came to fruition”, said Rob Monyak, WBC’s Executive VP and Chief Lending Officer for Eurasia. “We greatly appreciate the professionalism that the KhanLex team displayed throughout the process. We look forward to the next opportunity to work with KhanLex on a financing transaction [in Mongolia]”.