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:

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 31.8% 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 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%.

    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

    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 16.4% 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 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 16.4% 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

    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 16.4% 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 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 21.6% 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

    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 16.4% 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%