Target Audience |
Micro and small home or independent business owners both registered or not as well as active clients |
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Loan Amount |
Home Business |
Registered Business |
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400-2000 JD |
1001-3000 JD |
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Loan Description |
Home taafi (A) |
Home taafi (B) |
Registered Recovery (A) |
Registered Recovery (B) |
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Loan Limits |
400-600 JD |
601-1000 JD |
1001-2000 JD |
1001-2000 JD |
2001-3000 JD |
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Repayment Period |
15 months |
20 months |
24 months |
24 months |
30 months |
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Pricing |
19.8% annually 1.65% monthly |
19% annually 1.583% monthly |
18.9% annually 1.575% monthly |
18% annually 1.5% monthly |
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Grace Period |
1-2 months |
1-3 months |
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Business Capital |
Credit History and Cash Flow inspection |
35%-40% of business capital max. with revision after Credit History and Cash Flow inspection |
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DBR |
55% calculated by dividing total repayment with income |
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Grace Period Fees |
No of days (from money transfer date until grace period)/ 360 * loan amount * interest rate |
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Loan Disbursement |
Only By e-wallet |
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Disbursement Fees |
Loan Amount |
Fees cut from cheque for every repayment beginning from cheque's issuing date |
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400-2000 JD |
1 JD for every repayment |
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2001-3000 JD |
2 JD for every repayment |
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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 |
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Payment Method |
Mobile app. |
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e-fawateercom |
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Banks (Housing Bank & Kuwait Bank) |
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Branches or Cheques or through collection Cheques |
Warranties |
Listed below: |
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400-500 JD |
501-1000 JD |
1001-1300 JD |
1301-3000 JD |
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Documentation |
300-500 JD |
501-1000 JD |
1001-1300 JD |
1301-3000 JD |
+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). |