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

    annual interest rate

    declining interest rate/annual of 31.8% which is equivalent to fixed interest rate/annual of 18%

    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: free service where the outstanding balance of the client's loan is paid in case of the death of client and total and partial disability according to the approved disability schedule

    Payment channels

    Tamweelcom Branches

    eFAWATEERcom service

    Required Documents

    Proof of housing

    Personal ID Card and Family Book

    Additional documents might be requested as the need arises

    *Other

    Includes Syrian nationality holders of Syrian refugees, women, and youth own home-based, unlicensed, and licensed businesses, and classified as small or micro enterprises and according to the policy, with loan amount from 500 to 3000 JOD with the above interest rate, except loan amount from 500 to 999 JOD with declining interest rate/annual 38% which is equivalent to fixed interest rate/annual 22.8%.

    Noting that the loan for Syrian nationality holders is available in the following branches: (Al-Mafraq, Irbid, and Al-Ramtha), and the required documents (service card for the Syrian community/ UNHCR asylum seeker certificate/ additional documents might be requested)

     

    *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.

     

    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 31.8% which is equivalent to fixed interest rate/annual of 18%

    1. What is the total interest rate paid for the loan?

    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%

     

     

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

     

     

    annual interest rate

    for the loan amount between 1,000 -3,000 JOD: declining interest rate/annual of 31.8% which is equivalent to fixed interest rate/annual of 18%

    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 -7,000 JOD: declining interest rate/annual of 21.6% which is equivalent to fixed interest rate/annual of 12%

    for the loan amount between 7,001 -10,000 JOD: declining interest rate/annual of 18.5% which is equivalent to fixed interest rate/annual of 10.2%

    for the loan amount between 10,001 -50,000 JOD: declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9%

    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: free service where the outstanding balance of the client's loan is paid in case of the death of client and total and partial disability according to the approved disability schedule

    Payment channels

    Tamweelcom Branches

    eFAWATEERcom service

    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

    *Other

    Includes Syrian nationality holders of Syrian refugees, women, and youth own licensed businesses and classified as small or micro enterprises, and according to the policy, with loan amount from 1000 to 7000 JOD with the above interest rates, and with loan term 6 – 36 months.

    Noting that the loan for Syrian nationality holders is available in the following branches: (Al-Mafraq, Irbid, and Al-Ramtha), and the required documents (service card for the Syrian community/ UNHCR asylum seeker certificate/ project rental contract or guarantee contract/ additional documents might be requested)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    *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.

     

    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%.

    1. What is the total interest rate paid for the loan?

    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%

Revolving Finance
A credit line granted to Licensed Micro and Small Business to finance their needs and purchases from working capital and/or fixed assets. The customers can access funds from the line of credit at any time as long as they do not exceed the maximum amount (credit limit) set in the agreement and meet any other requirements.
Feature
  • Max. Amount of Credit Line 50,000 JOD
    Min. Amount of Credit Line 7,001   JOD
    Min. Amount for any utilization (withdraw) transaction from the credit line 10% from the granted credit line
    annual interest rate 

    for the loan amount (credit line) between 7,001 – 10,000 JOD: declining interest rate/annual of 18.5% which is equivalent to fixed interest rate/annual of 10.2%

    for the loan amount (credit line) between 10,001 – 50,000 JOD: 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 – 15 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 total and partial 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

     

    * 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.

     

    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 16.4% 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%

     

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
    annual interest rate for the loan amount between 7,001 -10,000 JOD: declining interest rate/annual of 18.5% which is equivalent to fixed interest rate/annual of 10.2%
    for the loan amount between 10,001 -20,000 JOD: 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 total and partial disability according to the approved disability schedule
    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 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.

     

    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 16.4% 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 %

     

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
    annual interest rate for the loan amount between 7,001 -10,000 JOD: declining interest rate/annual of 18.5% which is equivalent to fixed interest rate/annual of 10.2%
    for the loan amount between 10,001 -20,000 JOD: 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 total and partial disability according to the approved disability schedule
    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 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.

     

    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 16.4% 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 %

Express – Business
Targets company's clients of existing licensed Businesses to finance their working capital needs within specific terms and conditions, with quick procedure in approval and implementation.    
Feature
  • 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 Institutions/ Companies/ Individuals (male & 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 total and partial disability according to the approved disability schedule

    Payment channels

    Tamweelocm branches

    eFAWATEERcom service

    Collection cheques

    Required documents

    Personal ID

    Valid vocational License

    Valid Certificate of registration

    Additional documents might be requested

     

    *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.

     

    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 21.6% 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%

Purchasing Finance
Targets Licensed Micro and Small Businesses to finance their purchases of raw materials, goods, and fixed assets (excluding vehicles & real estates), therefore loan amount is paid to the vendor as per the client request.        
Feature
  • Amount 7,001 – 50,000 JOD
    annual interest rate

    for the loan amount between 7,001 – 10,000 JOD: declining interest rate/annual of 18.5% which is equivalent to fixed interest rate/annual of 10.2%

    for the loan amount between 10,001 – 50,000 JOD: declining interest rate/annual of 16.4% which is equivalent to fixed interest rate/annual of 9%

    Loan term

    3 – 18 months for the working capital finance

    6 – 36 months for the fixed assets finance

    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
    Targeted Sectors Commercial/ Industrial/ Service Providers/ Productive/ vehicles used for business purposes
    Loan Purpose Financing the business purchases of raw materials, goods, and fixed assets (excluding vehicles and real estates)
    Age of project 12 months and above
    Age

    18 – 65 years old

    Gender Both male & female
    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 total and partial 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

    Price offer /Invoice for the raw materials/goods/fixed assets is directed to the client

    Certification of registration (for the vendor)

    Additional documents might be requested

     

    *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.

     

    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 16.4% 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: 826 JOD (Principal 545.699 JOD, interest 272.155 JOD and sales tax on interest 8.146 JOD)

                The remaining monthly payments amount: 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 = 0.01494

    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) = 19.471%