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Target Audience

Micro and small home or independent business owners both registered or not as well as active clients

Loan Amount

Home Business

Registered Business

400-2000 JD

1001-3000 JD

Loan Description

Home taafi (A)

Home taafi (B)

Registered Recovery (A)

Registered Recovery (B)

Loan Limits

400-600 JD

601-1000 JD

1001-2000 JD

1001-2000 JD

2001-3000 JD

Repayment Period

15 months

20 months

24 months

24 months

30 months

Pricing

19.8% annually

1.65% monthly

19% annually

1.583% monthly

18.9% annually

1.575% monthly

18% annually

1.5% monthly

Grace Period

1-2 months

1-3 months

Business Capital

Credit History and Cash Flow inspection

35%-40% of business capital max. with revision after Credit History and Cash Flow inspection

DBR

55% calculated by dividing total repayment with income

Grace Period Fees

No of days (from money transfer date until grace period)/ 360 * loan amount * interest rate

Loan Disbursement

Only By e-wallet

Disbursement Fees

Loan Amount

Fees cut from cheque for every repayment beginning from cheque's issuing date

400-2000 JD

1 JD for every repayment

2001-3000 JD

2 JD for every repayment

Payment Method

Mobile app.

e-fawateercom

Banks (Housing Bank & Kuwait Bank)

Branches or Cheques or through collection Cheques

Warranties

Listed below:

400-500 JD

501-1000 JD

1001-1300 JD

1301-3000 JD

5. guarantor to be from outside the family.
5. Proof of Income For the guarantors if he is from within the family

5. 2 guarantors Regardless of kinship
5. Proof of Income For one of the guarantors or the customer for loans from 801-1000JD

5. 2 guarantors Regardless of kinship
5. Proof of Income of one of the guarantors, whether the client is new or returning.

5. 2 guarantors Regardless of kinship
5. Proof of Income for guarantors

Documentation

300-500 JD

501-1000 JD

1001-1300 JD

1301-3000 JD

+Basic paperwork to the client and the guarantor.

-Proof of Income for guarantor If it was a family member.

-Credit History

-Basic Paperwork for guarantors.

-Proof of Income for guarantors. (Depending on the nature of the work and in accordance with the guarantee policy).

-Credit History

-Basic Paperwork For the first guarantor and the second guarantor.

-Proof of Income of one of the guarantors (depending on the nature of the work and in accordance with the guarantee policy).

-License and Registration

-Credit History (the project budget and income statement, and that the value of working capital be clarified).

-Basic Paperwork For the first guarantor and the second guarantor.

-Proof of Income for guarantors (depending on the nature of the work and in accordance with the guarantee policy).

-License and Registration

-Credit History (the project budget and income statement, and that the value of working capital be clarified).