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Green Finance

Targeting Licensed Micro and Small Businesses to finance fixed assets of energy-saving tools or technologies or that use alternative energy (including for example, solar panels, solar heaters, energy- or water-saving electrical devices, drip irrigation techniques, etc.) or financing electric vehicles for work purposes, so that the financing is disbursed directly to the supplier.

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Loan Amount : 1,000 - 75,000 JOD

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Grace Period : Not applicable

Payment Date

Payment Date : 1st of each month

Loan Term

Loan Term : 6 - 48 Months (according to loan amount)

One-time commission for credit granting

One-time commission for credit granting : 1%+10 JOD of granting credit for the loans amount between 1,000-10,000 JOD, and 1%+20 JOD of granting credit for the loans amount more than 10,000 JOD

Late payment commission

Late payment commission : 0.5JOD\day for monthly payment between 50-200 JOD, 1JOD\day for monthly payment between 200-400 JOD, 2JOD\day for monthly payment more than 400 JOD

Annual interest rate

Annual interest rate:

declining interest rate/annual of 16.468% which is equivalent to fixed interest rate/annual of 9%

- Declining interest rate is indicative; the rate depends on the tenor of the loan.

Loan Purposes

Loan Purposes : Financing fixed assets such as energy-saving devices or technologies that use alternative energy (solar panels, solar water heaters, energy or water saving electrical devices, irrigation technologies,etc.) financing business-owned electrical vehicles

Insurance Solutions

Insurance Solutions : Customers' lives are insured through Sanad or Aman- based on the customer's request - according to the financing ceiling and in line with the terms and conditions of the services provided.

  • Age of the project should be:
    • For financing up to 5,000 Jordanian dinars (0) per month or more
    • For financing from - 5,000 - 10,000 Jordanian dinars (6) months or more
    • For financing amounts of more than 10,001 Jordanian dinars (12) months or more
  • Repayment period of up to 72 month for electric vehicles used for business purposes.
  • All kind of loans are subject to Stamps Fees Law and Sales Tax Law.
  • Includes all persons as long as they are in full legal capacity and in line with the company’s policy and provisions.
  • 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.
  • Terms and conditions apply.
  • The company is an insurance agent for the Jordanian Insurance Company and its registration number with the Central Bank of Jordan is 0022/01/5/20

The client obtained financing of 9,500 Kuwaiti dinars from the company’s financing, so that the financing will be repaid over 60 months and at a decreasing/annual interest rate of 15.73%, equivalent to a fixed/annual interest rate of 9%.

1.What is the aesthetic investment value of financing?

Total interest value on financing = 4,275 dinars, additional 3% for sales

Import contingency value on the contract = 30 dinars

One-time commission = 105 dinars, plus 3% added to the sales staff

Other services: A small service “Sanad” based on the customer’s request according to the company’s terms and conditions = 2.5 dinars per month

2.How much is the monthly payment for rapid acceleration (principal, interest, and sales tax on the stimulus)?

The value of the monthly installment for the first payment: 276,750 dinars (principal payment - interest value - sales sales on incentives)

The value of the monthly installment for the remaining payments: 233,500 dinars original, including payment, interest, and sales tax on taxes

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: (represents the expected income): enter 0

IRR = 0.01599

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) = 19.175%

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