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.
Business Loans
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 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 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 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
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 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 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 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