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Business Loan Program

Financing Ceiling Up to (100,000.00 JD)

A program dedicated to financing a wide variety of options for the trade and business sector within different economic sectors

Provide a wide and multiple options of different financing purposes for business sector of SMEs, self-employed individuals, professionals and craftspeople within different economic sectors, that meet their needs and expectations within financing of goods, working capital, and that fit with the client’s basic activity.

Targeted Segments

  • Professionals, Craftspeople, self-employed individuals within different economic sectors
  • SMEs within different economic sectors
  • Clients from Deposit owners’ Segment   
Special Determinants of the Product (Business Loans / Palestine)

Loan Currency Only Jordanian Dinar “JOD”

Max Loan Value 100,000 JOD for each client

Min Loan Value 10,000 JOD

Financing Rate Up to 100% and as the case maybe

Max Loan Tenure Including grace period Max 3 years
 
Min Repayment Period Max 6 Months

Min Age of Borrowers 

  • Personal Capacity (Natural Persons): 25 years old (with no less than 3 year of operational experience
  • Legal Personality (Corporates & Institutions)The operational age shall not be less than 3 years
Max Age of Borrowers
  • Personal Capacity (Natural Persons): 70 years old by the end of financing / loan tenure
  • Legal Personality (Corporates & Institutions): Unlimited
Repayment Basis Monthly or quarterly or seasonal or lump sum (if required) and as per the client’s cash flows
Grace Period Max 6 months (calculated within the total period of repayment)

Collaterals As the case may be and under the Bank credit policy


 

 

General Conditions

  • The program is to be applied under the special conditions and in compliance with the applicable policies and procedures at the Bank as well as instructions of PMA
  • Verify / Document income sources of the clients, and subject to the applicable procedures
  • A borrower shall be subject to requirements of monitoring authorities (such as legal permits, non-listed in PMA, ban lists, etc.) and under special instructions related to this aspect
  •  Non-appearance of any liability due onto the borrower.The applied margin between interest rate of creditor and debtor shall not be less than 2.5% in case of providing loans secured by a deposit
  •   Institutions / Corporates who request financing must be registered in Palestine and shall not be affiliate to other company outside Palestine
  • Committed to business agreements signed with monitoring departments of the Bank
  • Provision of audited financial statements subject to relevant instructions
Required Documentation

Professionals, Craftspeople, Self-employed Individuals within different economic sectors 

  •    Valid ID of the client (Identity Card)
  • Recent Bank Statement for the last six months regardless of required loan amount (in case of dealing with other banks)
  • Practicing Profession Certificate, copy of valid association membership card, copy of tenancy contract or ownership deed of the place of business etc., and the supporting documents related to each sector separately
  • Any other documents and according to instructions related to this aspect
SMEs within different economic sectors 
  • Official documents of the institution or corporate and under applicable actions in this respect (such as registration certificate with no more than 6 months and a valid professional license)
  • Recent Bank Statement for the last six months regardless of required loan amount (in case of dealing with other banks) compared with the declared volume of business and subject to provided financial statements or the field inspection prepared by the Bank
  • If no recent bank statement for the last six months is available to prove the client’s income, a physical inspection of the client’s stores will be conducted to prove his/her monthly income
  • Any other documents and according to relevant instructions