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:
TAMKEEN FINANCE
Financing startup, home-based, unregistered, and licensed businesses with loan amount starting from 300 JOD to 3,000 JOD to Finance working capital and/or fixed assets.
Feature
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.
- - 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 31.6% which is equivalent to fixed interest rate/annual of 18%
- 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 licensed businesses (in operation for 1 year and more) with loan amount starting from 3,001 JOD to 50,000 JOD to finance working capital and/or fixed assets.
Feature
Amount
3,001 – 50,000 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 -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 (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 – 50,000 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 – 50,000 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.
- - 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%.
- 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
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 – 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 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.
- - 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 16.2% 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%
Financing Sales for Sales Points
In partnership with the Middle East Payment Services Company (MEPS), we provide financing to licensed micro and small enterprises who provide electronic payment service with MEPS. The clients fully or partially divert their sales through point of sales to repay their loans.
Feature
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.
- - 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 16.2% 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 %
Financing Credit Sales
Financing that provides immediate liquidity for businesses. Repayment is made by check directly to Tamweelcom.
Feature
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
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
- - 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 16.2% 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 %
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 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.
- - 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 21.1% 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%
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
10,001 – 50,000 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 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 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
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
*Declining interest rate is indicative, the rate depends on the tenor of the loan.
- - 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 16.3% 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: 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%