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 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%
- 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%
- 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.
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 Fixed monthly interest rate 1% 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
Sanad: free service that designed to compensate due to loss of client's income during hospitalization.
Payment channels Tamweelocm branches
E-FAWATEERcom vendors
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.
* 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 fixed monthly interest rate of 1%
1- What is the total fixed interest rate paid for the loan?
Total Fixed interest rate for the loan: (8,000*1%*9) = 720 JOD
Stamps duty on the Contract = 24 JD
2- What is the monthly payment for the loan (principal Monthly, interest and sales tax on interest)?
First month payment amount: 973.6 JOD (Principal 828.708, Monthly interest 140.674 JOD and sales tax on interest 4.218 JOD)
The remaining monthly payments amount: 971 JOD (Including principle 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 = 0.02085
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) = (1+0.02085)12 – 1= 28.1 %
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 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 – 50,000 JOD
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
Sanad: free service that designed to compensate due to loss of client's income during hospitalization.
Payment Channels Tamweelcom branches
E-FAWATEERcom vendors.
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.
* 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 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: 797 JOD (Principal 517.066, Monthly interest 271.798 JOD and sales tax on interest 8.136 JOD)
The remaining monthly payments amount: 822 JOD (Including principle 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 = 0.01492
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) = (1+0.01492)12 – 1= 19.443 %