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

    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: 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 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 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 18 months and fixed monthly interest rate 1.5%

    1. 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: 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 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 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 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: 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: 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 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: (15,000*0.75%*12) = 1,350 JOD

    Stamps duty on the Contract = 45 JD

    2- What is the monthly payment for the loan (principal Monthly, interest and sales tax on interest)?

    First month payment amount: 1,375.5 JOD (Principal 1,166.739, Monthly interest 202.685 JOD and sales tax on interest 6.076 JOD)

    The remaining monthly payments amount: 1,365 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 = 0.01602

    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) = (1+0.01602)12 – 1= 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
    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: 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 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%*12) = 1,800 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: 1,823 JOD (Principal 1,544.788 , Monthly interest 270.114 JOD and sales tax on interest 8.098 JOD)

    The remaining monthly payments amount: 1,821 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 = 0.01601

    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) = (1+0.01601)12 – 1= 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
    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

    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.

    *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 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

    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.

    *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 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 %