Business Loans

Business Loans 

We provide a diverse array of business loans, serving both micro- and small-enterprise owners. Our financing is meant to ensure business sustainability, as well as to support growth.

 

 

TYPES OF BUSINESS LOANS:

START-UP AND HOME-BASED BUSINESSES
Financing start-up and home-based businesses to cover costs of registration and licensing and to purchase necessary tools, equipment and inputs.
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 each 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

    * All kind of loans are subjet to Stamps Fees law and Sales Tax law.

    * 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

    Stamps duty on the Contract = 9 JD

     

         2. What is the monthly payment for the loan (principal, Monthly interest and sales tax on interest)?

              First month payment amount: 186.25 JOD (Principal 118.013, Monthly interest 66.252 JOD and sales tax on interest 1.985 JOD)

             The remaining monthly payments amount: 177 JOD (Including principal payment, Monthly interest and sale tax on interest).

     

          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 = 0.02786

    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+0.02786)12 - 1= 39.062 %

     

     

LICENSED BUSINESSES
Financing registered companies (in operation for 1+ years) to cover costs of operation, expansion, renovation, etc.
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 each day of delay for the loan amount between 1,000-7,000

    5 JOD per each 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

    12 months and above 

    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

    * All kind of loans are subjet to Stamps Fees law and Sales Tax law.

    * 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

    Stamps duty on the Contract = 60 JD

          2. What is the monthly payment for the loan (principal Monthly, interest and sales tax on interest)?

                First month payment amount: 826 JOD (Principal 545.699, Monthly interest 272.155 JOD and sales tax on interest 8.146 JOD)

                The remaining monthly payments amount: 821 JOD (Including principal payment, Monthly interest and sale tax on interest).

     

          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 = 0.01494

    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+0.01494)12 – 1= 19.47 %

Financing Sales for Sales Points
In partnership with the Middle East Payment Services Company (MEPS), we provide financing to entrepreneurs with licensed micro- or small-enterprises via a credit system. Clients are able to use their loans to make digital payments for their business needs. These owners may fully or partially divert their sales profits to repay their loans. 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 3 - 18 months
    Grace period Not applicable
    Fees 1% of the loan amount
    Penalties  5 JOD per each day of delay
    Payment date 1st of each month
    Targeted Segment Licensed and classified small and micro enterprises provided to MEPS Payable Service either as existing clients or as new customers
    Targeted Sectors Commercial, Industrial, Services providers.
    Loan Purposes Working capital 
    Age of Project 12 months and above
    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 Transfer amount of money (Project Sales) through MEPS point of sales to Tamweelcom's client Account.
    Required Documents Valid Certificate of Registration
    Valid Vacational License
    Personal ID Card and Family Book
    Additional documents might be requested as the need arises

     

  • * All kind of loans are subjet to Stamps Fees law and Sales Tax law.

    * 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.

Financing Credit Sales
Financing that provides immediate liquidity for businesses. Repayment is made by check directly 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 Depends on finance structure and cheques' dates 
    Fees 1% of the loan amount
    Penalties  5 JOD per each day of delay 
    Payments' date Depends on finance structure 
    Commercial, Industrial, Services providers.
    Targeted Sectors
    Loan Purposes Credit sales/ Working capital.
    Age of Project 12 months and above
    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 Channel Collection Cheques
    Required Documents Valid Certificate of Registration
    Valid Vacational License
    Personal ID Card and Family Book
    Additional documents might be requested as the need arises
    The percantage of financing including the intersets from total amount of the cheques  Up to a maximum of 80% of the value of the cheques

     

  • * All kind of loans are subjet to Stamps Fees law and Sales Tax law.

    * 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.