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
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:
Loan Amount |
300 – 3,000 JOD |
annual interest rate* |
declining interest rate/annual of 31.8% which is equivalent to fixed interest rate/annual of 18% |
Loan term |
6 - 36 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 |
Startup business, Home-based business, unregistered business, and licensed business. |
Targeted Sectors |
Commercial, Industrial, Service, productive, and vehicles used for business purposes |
Loan Purposes |
Working capital / Fixed assets |
Age of Project |
0 or more |
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: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment channels |
Tamweelcom Branches |
eFAWATEERcom service |
|
Required Documents |
Personal ID Card |
Family Book |
|
Additional documents might be requested as the need arises |
|
Tawasol loan (Additional Supporting loan for existing clients) |
Minimum Loan Amount: 100 JOD Maximum Loan Amount: 25% of the Basic loan amount and maximum 500 JOD Fixed monthly interest Rate: 2% Loan Term: 6-12 Months |
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example:-
A client received a JOD 2,500 loan from Tamweelcom, with a tenor of 24 months and at a declining interest rate/annual of 31.6% which is equivalent to fixed interest rate/annual of 18%
Total interest rate for the loan = 900 JOD
Stamps duty on the Contract = 9 JOD
2. What is the monthly payment for the loan (principal, interest and sales tax on interest)?
First month payment amount: 161 JOD (Principal 93.229 JOD, interest 65.801 JOD and sales tax on interest 1.97 JOD)
The remaining monthly payments amount: 142 JOD (Including principal payment, interest and sales 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 = 0.02755
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) = 38.563%
Amount |
3,001 – 75,000 JOD |
Annual interest rate* |
for the loan amount between 3,001 -5,000 JOD: declining interest rate/annual of 26.7% which is equivalent to fixed interest rate/annual of 15% |
for the loan amount between 5,001 -10,000 JOD: declining interest rate/annual of 21.6% which is equivalent to fixed interest rate/annual of 12% |
|
for the loan amount between 10,001 -75,000 JOD: declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9% |
|
Loan term |
3 - 48 months (according to amount and purpose of the loan) |
Grace period |
Not applicable |
Payment date |
1st of each month |
Fees |
1 JOD per 1,000 and its fraction for the loan amount between 3,001-10,000 JOD |
1% of the loan amount for the loan amount between 10,001 – 75,000 JOD |
|
Penalties |
0.5 JOD per each day of delay for the loan amount between 3,001-10,000 JOD |
5 JOD per each day of delay for the loan amount between 10,001 – 75,000 JOD |
|
Targeted Segment |
Licensed Micro and Small businesses |
Targeted Sectors |
Commercial, Industrial, Service, productive, and vehicles used for business purposes |
Loan Purposes |
Working capital / 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: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment channels |
Tamweelcom Branches |
eFAWATEERcom service |
|
Required Documents |
Valid Certificate of Registration Valid Vocational License Personal ID Card and Family book Additional documents might be requested as the need arises |
Tawasol loan (Additional Supporting loan for existing clients who obtained loan up to 10,000 JOD) |
Minimum Loan Amount: 100 JOD Maximum Loan Amount: 25% of the Basic loan amount and maximum 500 JOD Fixed monthly interest Rate: 2% Loan Term: 6-12 Months |
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example:-
A client received a JOD 20,000 loan from Tamweelcom, with a tenor of 24 months and at a declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9%.
Total interest rate for the loan = 3,600 JOD
Stamps duty on the Contract = 60 JOD
2. What is the monthly payment for the loan (principal, interest and sales tax on interest)?
First month payment amount: 1,007 JOD (Principal 725.178 JOD, interest 273.626 JOD and sales tax on interest 8.196 JOD)
The remaining monthly payments amount: 987 JOD (Including principal payment, interest and sales 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 = 0.01522
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) = 19.869%
Max. Amount of Credit Line |
75,000 JOD |
Min. Amount of Credit Line |
10,001 JOD |
Min. Amount for any utilization (withdraw) transaction from the credit line |
10% from the granted credit line |
annual interest rate* |
Declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9% - Interest rate of the utilized amount is according to the interest rate for the granted credit line. |
Loan term of each utilized (withdrawn) amount |
3 – 24 months |
Grace period |
Not applicable |
Fees |
1% of the amount of each utilization (withdraw) |
Penalties |
5 JOD per each day of delay and for each utilization (withdraw) |
Targeted Segment |
Licensed Micro and small businesses |
Targeted Sectors |
All economic sectors |
Loan Purpose |
Working capital and/or fixed assets |
Age of project |
12 months and above |
Age |
18 – 65 years old |
Borrower nature |
Sole proprietorships / companies |
Nationality |
Jordanian |
Added value services |
Aman: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment Channels |
Tamweelcom branches |
eFAWATEERcom service |
|
Collection cheques |
|
Required documents |
Valid certificate of registration |
Valid vocational license |
|
Personal ID card and family book |
|
Additional documents might be requested |
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example:-
A client got a revolving loan with a credit line (limit) by amount of 50,000 JOD from Tamweelcom, and with a tenor of 12 months for each utilized (withdraw) amount and at a declining interest rate/annual of 16.2% which is equivalent to fixed interest rate/annual of 9%.
*Stamps duty on the Contract = 150 JOD is paid upon signature the revolving loan contract.
The client utilized (withdraw) 30,000 JOD from the Granted limit
1. What is the total interest rate paid for the above utilization (withdraw)?
Total interest rate for the above utilization (withdraw) = 2,700 JOD
2. What is the monthly payment for the above utilization (withdraw) (principal, interest and sales tax on interest)?
First month payment amount for the above utilization (withdraw): 2,740 JOD (Principal 2,322.614 JOD, interest 405.236 JOD and sales tax on interest 12.15 JOD)
The remaining monthly payments amount for the above utilization (withdraw): 2,731 JOD (Including principal payment, interest and sales tax on interest).
3. How to calculate the effective interest rate (EIR) for the above utilization (withdraw)
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 = 0.01553
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) = 20.307%
Amount |
10,001 – 20,000 JOD |
Annual interest rate* |
Declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9% |
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: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment channels |
Transfer amount of money (Project Sales) through MEPS point of sales to Tamweelcom client Account. |
Required Documents |
Valid Certificate of Registration |
Valid Vocational License |
|
Personal ID Card and Family Book |
|
Additional documents might be requested as the need arises |
|
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example:-
A client received a JOD 15,000 loan from Tamweelcom, with a tenor of 12 months and at a declining interest rate/annual of 16.2% which is equivalent to fixed interest rate/annual of 9%.
1- What is the total interest rate paid for the loan?
Total interest rate for the loan = 1,350 JOD
Stamps duty on the Contract = 45 JOD
2- What is the monthly payment for the loan (principal, interest and sales tax on interest)?
First month payment amount: 1,375.5 JOD (Principal 1,166.739 JOD, interest 202.685 JOD and sales tax on interest 6.076 JOD)
The remaining monthly payments amount: 1,365 JOD (Including Principal payment, interest and sales 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 = 0.01602
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) = 21.01 %
Amount | 10,001 – 20,000 JOD |
Annual interest rate* | Declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9% |
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: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment Channel | Collection Cheques |
Required Documents | Valid Certificate of Registration |
Valid Vocational 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 |
Required Documents | Valid Certificate of Registration |
Valid professional license | |
Disclosure of receivables, their concentration and ages | |
Personal ID Card and Family Book | |
Additional documents might be requested as the need arises |
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example:-
A client received a JOD 20,000 loan from Tamweelcom, with a tenor of 12 months and at a declining interest rate/annual of 16.2% which is equivalent to fixed interest rate/annual of 9%.
1- What is the total interest rate paid for the loan?
Total interest rate for the loan = 1,800 JOD
Stamps duty on the Contract = 60 JOD
2- What is the monthly payment for the loan (principal, interest and sales tax on interest)?
First month payment amount: 1,823 JOD (Principal 1,544.788 JOD, interest 270.114 JOD and sales tax on interest 8.098 JOD)
The remaining monthly payments amount: 1,821 JOD (Including Principal payment, interest and sales 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 = 0.01601
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) = 20.999 %
Max. amount |
25% of the basic loan and maximum (10,000) JOD |
Min. amount |
1,000 JOD |
annual interest rate* |
declining interest rate/annual of 21.6% which is equivalent to fixed interest rate/annual of 12% |
Loan term |
3 – 9 months |
Grace period |
Not applicable |
Payment date |
1st of each month |
Fees |
1% of the loan amount |
Penalties |
5 JOD per each day of delay |
Targeted Segment |
Licensed Micro and small businesses (have an existing loan/s) |
Targeted Sectors |
Commercial/ Industrial/ Service Providers/ Productive |
Loan purposes |
Working capital needs |
Age of project |
12 months and above |
Age |
18 – 65 years old |
Gender |
Both Male and Female |
Nationality |
Jordanian or people from Gaza according to the related policy |
Added Value Services |
Aman: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment channels |
Tamweelcom branches eFAWATEERcom service Collection cheques |
Required documents |
Personal ID Valid vocational License Valid Certificate of registration Additional documents might be requested |
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example :-
A client received a JOD 8,000 loan from Tamweelcom, with a tenor of 9 months and at a declining interest rate/annual of 21.1% which is equivalent to fixed interest rate/annual of 12%.
1- What is the total interest rate paid for the loan?
Total interest rate for the loan = 720 JOD
Stamps duty on the Contract = 24 JOD
2- What is the monthly payment for the loan (principal, interest and sales tax on interest)?
First month payment amount: 973.6 JOD (Principal 828.708 JOD, interest 140.674 JOD and sales tax on interest 4.218 JOD)
The remaining monthly payments amount: 971 JOD (Including principal payment, interest and sales 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 = 0.02085
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) = 28.099%
Amount |
1,000 – 75,000 JOD |
annual interest rate* |
Amounts (JOD 1,000 – 3,000): Declining interest rate/annual of (31.6%) which is equivalent to fixed interest rate/annual of 18%
Amounts (JOD 3,001 – 5,000): Declining interest rate/annual of (26.7%) which is equivalent to fixed interest rate/annual of 15%
Amounts (JOD 5,001 – 10,000): Declining interest rate/annual of (21.5%) which is equivalent to fixed interest rate/annual of 12%
Amounts (JOD 10,001 – 75,000): Declining interest rate/annual of (16.3%) which is equivalent to fixed interest rate/annual of 9% |
Loan term |
Amounts (JOD 1,000 – 10,000): 6 – 36 Months. Amounts (JOD 10,001 – 75,000): 6 – 72 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 (1,000-10,000 JOD)
1% of the loan amount for (10,001 – 75,000 JOD) |
Penalties |
0.5 JOD per each day of delay, for loan amounts (1,000 – 10,000 JOD) 5 JOD per each day of delay, for loan amounts (10,001 – 75,000 JOD) |
Targeted Segment |
Licensed Micro and small businesses |
Targeted Sectors |
Commercial/ Industrial/ Service Providers/ Productive/ vehicles used for business purposes |
Loan Purpose |
Financing the business purchases of raw materials, and/or goods, and/or fixed assets. Financing Business-owned vehicles/scooters. Financing telecommunication services and technology and information technology services, and business digitalization. Financing Commercial Solar systems Finance buyout |
Age of project |
0 months and above, for loan amounts (1,000 – 3,000) 12 months and above, for loan amounts (3,001 – 75,000 JOD) |
Age |
18 – 65 years old |
Gender |
Both male & female |
Nationality |
Jordanian and people from Gaza according to the related policy. |
Added value services |
Aman: free service where the outstanding balance of the client's loan is paid in case of the death of client and in case of disability according to the approved disability schedule |
Payment Channels |
Tamweelcom branches eFAWATEERcom service Collection cheques |
Required documents |
Valid certificate of registration Valid vocational license Personal ID card and family book Certification of registration (for the institution and the vendor) Price offer /Invoice for the raw materials/goods/fixed assets/vehicles/scooters is directed to the client Price appraisal for used vehicles/scooters from a verified price appraiser. Additional documents might be requested
|
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
Example:-
A client received a JOD 20,000 loan from Tamweelcom, with a tenor of 30 months and at a declining interest rate/annual of 16.3% which is equivalent to fixed interest rate/annual of 9%.
1-What is the total interest rate paid for the loan?
Total interest rate for the loan = 4,500 JOD
Stamps duty on the Contract = 60 JOD
2- What is the monthly payment for the loan (principal, interest and sales tax on interest)?
First month payment amount: 797 JOD (Principal 517.066 JOD, interest 271.798 JOD and sales tax on interest 8.136 JOD)
The remaining monthly payments amount: 822 JOD (Including principal payment, interest and sales 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 = 0.01492
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) = 19.443%