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Business Financing Segment

As an award-winning institute, Tamweelcom provides carefully tailored products through its Business Financing Segment that provides responsible, fast-track financing solutions for entrepreneurs of micro or small businesses, to ensure their sustainability and support their growth.

 

 

TYPES OF BUSINESS LOANS:

Unlicensed or Home Businesses
Financing start-up projects and home-based businesses for several purposes such as the costs of registration and licensing, and the purchase of tools, equipment and goods.
Feature

  • Amount

    1,000 – 3,000 JOD

    Fixed monthly interest rate

    1.5%

    Loan term

    6 - 24 months

    Grace period

    Not applicable

    Payment date

    1st of each month

    Fees

    1 JOD per 1,000 and its fraction

    Penalties

    0.5 JOD per day of delay

    Targeted Segment

    Unlicensed or Home Businesses

    Targeted Sectors

    Commercial, Industrial, Services providers and vehicls used for business purposes

    Loan Purposes

    Working capital or fixed assets

    Age of Project

    More than Zero month

    Age

    18-65 Years old

    Gender

    Both Male and Female

    Nationality

    Jordanian and people from Gaza according to the related policy

    Added value services

    Aman Insuranc: Life, and total and partial disability free insurance

    Sanad Insurance: Compensation due to loss of client's income during hospitalization

    Payment channels

    Tamweelcom Branches

    eFAWATEERcom Vendors

    Required Documents

    Proof of housing

    Personal ID Card and Family Book

    Additional documents might be requested as the need arises

     

    * The company is obliged to grant funding only for legal purposes, and the fund is not granted for any kind of illegal purposes or purposes that entail environmental and social impact.

    Example:-

    A client received a JOD 2,500 loan from Tamweelcom, with a tenor of 18 months and fixed monthly interest rate 1.5%

    1- What is the total fixed interest rate paid for the loan?

    Total Fixed interest rate for the loan: (2,500*1.5%*18) = 675 JOD

    2- What is the monthly payment for the loan (principal and fixed interest rate)?

    First month payment amount: 183 JOD (Principal 137, Fixed monthly interest rate: 46)

    The remaining monthly payments amount: 176 JOD (Principal 139, Fixed monthly interest rate: 37)

     

    3- How to calculate the effective interest rate (EIR) for the loan

    The effective interest rate (EIR) = (1+IRR)12 - 1

    The Internal rate of return (IRR) calculated using Microsoft Excel by using the equation of IRR:

    Value field: enter all the cash flows (plus and minus)

    Guess field: (represent the expected income): enter 0

    IRR = 0.02667

    Which represent the Monthly Effective rate

    The effective interest rate (EIR) calculated by substitute the IRR in the following equation:

    The effective interest rate (EIR) = (1+IRR)12 - 1

    The effective interest rate (EIR) = (1+0.02667)12 – 1=  37.143 %

     

Licensed Business Financing
Financing the needs of registered companies which has been operational for over one year for the purpose of financing goods and covering operating expenses (maintenance costs, employee wages, rental of sites), opening of new branches, implementation and renovation of decorations, purchase of...
Feature

  • Amount

    1,000 – 50,000 JOD

     

     

    Fixed monthly interest rate

    1.5% for the loan amount between 1,000 -3,000 JOD

    1.25% for the loan amount between 3,001 -5,000 JOD

    1.00% for the loan amount between 5,001 -7,000 JOD

    0.85% for the loan amount between 7,001 -10,000 JOD

    0.75% for the loan amount between 10,001 -50,000 JOD

    Loan term

    3 - 36 months

    Grace period

    Not applicable

    Payment date

    1st of each month

    Fees

    1 JOD per 1,000 and its fraction for the loan amount between 1,000-7,000

    1% of the loan amount for the loan amount between 7,001 – 50,000

    Penalties

    0.5 JOD per day of delay for the loan amount between 1,000-7,000

    5 JOD per day of delay for the loan amount between 7,001 – 50,000

    Targeted Segment

    Licensed Micro and Small businesses

    Targeted Sectors

    Commercial, Industrial, Services providers and vehicls used for business purposes

    Loan Purposes

    Working capital or fixed assets

    Age of Project

    More than 12 Months

    Age

    18-65 Years old

    Gender

    Both Male and Female

    Nationality

    Jordanian and people from Gaza according to the related policy

    Added value services

    Aman Insuranc: Life, and total and partial disability free insurance

    Sanad Insurance: Compensation due to loss of client's income during hospitalization

    Payment channels

    Tamweelcom Branches

    eFAWATEERcom Vendors

    Required Documents

    Valid Certificate of Registration

    Valid Vacational License

    Personal ID Card and Family members ID card

    Additional documents might be requested as the need arises

    * The company is obliged to grant funding only for legal purposes, and the fund is not granted for any kind of illegal purposes or purposes that entail environmental and social impact.

    Example:-

    A client received a JOD 20,000 loan from Tamweelcom, with a tenor of 30 months and fixed monthly interest rate of 0.75%

    1- What is the total fixed interest rate paid for the loan?

    Total Fixed interest rate for the loan: (20,000*0.75%*30) = 4,500 JOD

    2- What is the monthly payment for the loan (principal and fixed interest rate)?

                First month payment amount: 807 JOD (Principal 657, Fixed monthly interest rate: 150)

               The remaining monthly payments amount: 817 JOD (Principal 667, Fixed monthly interest rate: 150)

    3- How to calculate the effective interest rate (EIR) for the loan

    The effective interest rate (EIR) = (1+IRR)12 - 1

    The Internal rate of return (IRR) calculated using Microsoft Excel by using the equation of IRR:

    Value field: enter all the cash flows (plus and minus)

    Guess field: (represent the expected income) enter 0

    IRR = 0.01433

    Which represent the Monthly Effective rate

    The effective interest rate (EIR) calculated by substitute the IRR in the following equation:

    The effective interest rate (EIR) = (1+IRR)12 - 1

    The effective interest rate (EIR) = (1+0.01433)12 – 1= 18.612 %

     

Financing Sales for Sales Points
Financing targeting entrepreneurs with existing licensed enterprises classified as small or micro-enterprises which provides electronic payment service via Middle East Payment services company (MEPS). In which the business fully or partially divert its sales profits to repay the loan.
Feature
  • Amount 7,001 – 20,000 JOD
    Fixed monthly interest rate 0.85% for the loan amount between 7,001 -10,000 JOD
    0.75% for the loan amount between 10,001 -20,000 JOD
    Loan term 1 - 18 months
    Grace period Not applicable
    Payment date 1st of each month
    Targeted Segment Licensed Micro and Small businesses
    Targeted Sectors Licensed licensed and classified small and micro enterprises provided to MEPS Payable Service either as existing clients or as new customers
    Loan Purposes Working capital or fixed assets
    Age of Project More than Zero month
    Age 18-65 Years old
    Gender Both Male and Female
    Nationality Jordanian and people from Gaza according to the related policy
    Added value services Aman Insuranc: Life, and total and partial disability free insurance
    Sanad Insurance: Compensation due to loss of client's income during hospitalization
    Payment channels Tamweelcom Branches
    eFAWATEERcom Vendors
    Required Documents Proof of housing
    Personal ID Card and Family Book
    Additional documents might be requested as the need arises

     

Financing Credit Sales
Financing provides immediate liquidity for businesses, by paying a percentage of the check’s value to the client, and in return transfer the ownership of checks to Tamweelcom.
Feature
  • Amount 7,001 – 20,000 JOD
    Fixed monthly interest rate 0.85% for the loan amount between 7,001 -10,000 JOD
    0.75% for the loan amount between 10,001 -20,000 JOD
    Loan term 1 - 12 months
    Grace period Not applicable
    Payment date 1st of each month
    Commercial, Industrial, Services providers and vehicls used for business purposes
    Targeted Sectors
    Loan Purposes Working capital or fixed assets
    Age of Project More than Zero month
    Age 18-65 Years old
    Gender Both Male and Female
    Nationality Jordanian and people from Gaza according to the related policy
    Added value services Aman Insuranc: Life, and total and partial disability free insurance
    Sanad Insurance: Compensation due to loss of client's income during hospitalization
    Payment channels eFAWATEERcom Vendors
    Tamweelcom Branches
    Required Documents Proof of housing
    Personal ID Card and Family Book
    Additional documents might be requested as the need arises
    The number of financing of the administrative designer covered by the total value of the checks Up to a maximum of 80% of the value of the checks

     

*Terms and conditions apply