Lang
Companies in Myanmar seeking to establish new soybean oil mills to bolster the nation's edible oil self-sufficiency are now invited to apply for financing. The loans, specifically designated for the purchase of oil expellers, are being offered through the Myanma Investment and Commercial Bank (MICB).
The Myanmar Edible Oil Millers Association (MEOMA) has confirmed that the MICB will meticulously process all loan applications in strict adherence to its established lending protocols. This initiative was brought to the attention of MEOMA members via a letter from the MICB, which was disseminated by the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). The letter specifically requested a compilation of companies expressing interest in securing such financial assistance.
Prospective applicants can submit their loan requests directly to the Loan Department of the MICB, situated at No 170/176, Corner of Bo Aung Kyaw Street and Merchant Street, Botahtaung Township, Yangon. Additionally, applicants are required to forward a copy of their submission to the UMFCCI via email at info.umfcci@gmail.com.
A comprehensive set of documents is required for the application process. These include: the sales contract for the land and building, the land's map and history (Form 105/106), a copy of the Citizenship Scrutiny Card, a copy of the household certificate, a consent letter from the property owner, recommendation letters from both the ward and police station, a valid business license, a debt-free clearance certificate, a consent letter confirming the provision of collateral, tax payment records, photographs of the business premises, photographs of the collateral offered, a land lease grant contract, and passport-sized photographs of the entrepreneur's spouse.
Source: Myanmar Digital News