Taafi loan | National Microfinance Bank

Financial Services

Target Audience:
- Micro and small home or registered businesses whether startups or investments for approved new or returning clients. if the conditions of the grant apply to the customer and based on his desire
Designed for COVID-19 recovery and similar phenomenon to lessen the negative effects of such incidents

Target Audience	Micro and small home or independent business owners both registered or not as well as active clients
Loan Amount	Home Business				Registered Business
	400-2000 JD				1001-3000 JD
Loan Description	Home taafi (A)		Home taafi (B)		Registered Recovery (A)	Registered Recovery (B)
Loan Limits	400-600 JD	601-1000 JD	1001-2000 JD		1001-2000 JD	2001-3000 JD
Repayment Period	15 months	20 months	24 months		24 months	30 months
Pricing	19.8% annually 1.65% monthly		19% annually 1.583% monthly		18.9% annually 1.575% monthly	18% annually 1.5% monthly
Grace Period	1-2 months				1-3 months
Business Capital	Credit History and Cash Flow inspection				35%-40% of business capital max. with revision after Credit History and Cash Flow inspection
DBR	55% calculated by dividing total repayment with income
Grace Period Fees	No of days (from money transfer date until grace period)/ 360 * loan amount * interest rate
Loan Disbursement	Only By e-wallet
Disbursement Fees	Loan Amount			Fees cut from cheque for every repayment beginning from cheque's issuing date
	400-2000 JD			1 JD for every repayment
	2001-3000 JD			2 JD for every repayment
Penalties	Reaching up to 0.003% of repayment daily and/or repayments due for every day of delay with a min. 1JD daily for every day delay in paying an installment or part of a due installment
Payment Method	Mobile app.
	e-fawateercom
	Banks (Housing Bank & Kuwait Bank)
	Branches or Cheques or through collection Cheques

Warranties	Listed below:
	400-500 JD	501-1000 JD	1001-1300 JD	1301-3000 JD
	guarantor to be from outside the family. Proof of Income For the guarantors if he is from within the family	2 guarantors Regardless of kinship Proof of Income For one of the guarantors or the customer for loans from 801-1000JD	2 guarantors Regardless of kinship Proof of Income of one of the guarantors, whether the client is new or returning.	2 guarantors Regardless of kinship Proof of Income for guarantors
Documentation	300-500 JD	501-1000 JD	1001-1300 JD	1301-3000 JD
Documentation	+Basic paperwork to the client and the guarantor. -Proof of Income for guarantor If it was a family member. -Credit History	-Basic Paperwork for guarantors. -Proof of Income for guarantors. (Depending on the nature of the work and in accordance with the guarantee policy). -Credit History	-Basic Paperwork For the first guarantor and the second guarantor. -Proof of Income of one of the guarantors (depending on the nature of the work and in accordance with the guarantee policy). -License and Registration -Credit History (the project budget and income statement, and that the value of working capital be clarified).	-Basic Paperwork For the first guarantor and the second guarantor. -Proof of Income for guarantors (depending on the nature of the work and in accordance with the guarantee policy). -License and Registration -Credit History (the project budget and income statement, and that the value of working capital be clarified).