|
First Product |
Second Product |
POS Merchants - QR Code |
| Product Name |
Micro loans first product/ Your project 1/ Supporting women |
Micro loans second product/ Your project 2 |
POS – QR Codes merchants first category D / POS – QR Codes merchants second category D / POS – QR Codes merchants first category D / POS – QR Codes merchants second category |
| Product Charges |
1.5% First product/ Supporting women 2.5% Second product
2.5% Your project 1 3% Your project 2
|
| Loan Value |
Value of the given loan: from 30000 : 75000 |
Value of the given loan: more than 75000 : 250000 |
Loan value is determined as follows: 50% of the value of annual cash flows from POS + QR Code for our Bank customers at a maximum of EGP 100,000; 35% of the value of annual cash flows from POS + QR Code for other bank customers at a maximum of EGP 100,000 |
| Product Benefits |
The loan may be renewed immediately upon repaying the current loan (full payment of debt); or on any date subsequent to the loan due date, with due regard to loan brackets, provided that the project is re-assessed by the committee upon document renewal |
The loan may be renewed immediately upon repaying the current loan (full payment of debt); or on any date subsequent to the loan due date, with due regard to loan brackets, provided that the project is re-assessed by the committee upon document renewal |
The loan may be renewed immediately upon repaying the current loan (full payment of debt); or on any date subsequent to the loan due date, with due regard to loan brackets, provided that the project is re-assessed by the committee upon document renewal |
| Accelerated payment is permitted, provided that the Bank receives a 3% commission on the remaining balance of the original loan. The loan is not renewed unless after a period of 6 months from the tenor of the agreed loan. |
Accelerated payment is permitted, provided that the Bank receives a 3% commission on the remaining balance of the original loan. The loan is not renewed unless after a period of 6 months from the tenor of the agreed loan. |
| Disbursement mechanism: cash |
For amounts up to 100 thousand pounds, the disbursement is made in cash. As for amounts greater than 100 thousand pounds: the cash disbursement rate does not exceed 50% of the grant value, and the rest of the funding is disbursed by transferring to the supplier’s account inside or outside our bank which is positively inquired about (in an office). Through the form prepared for this purpose |
Disbursement mechanism: cash |
| Additional Product Information |
Installments due date: On the same day as loan disbursement effective the subsequent month, without a grace period. |
| Delay returns: 4% added to the applicable rate of return, to be calculated on the due monthly installments, while granting the customer a 3-day grace period from the date on which the installment is due, without charging a penalty. |
| Required Documents |
One year of practicing the activity |
| Copy of the lease contract, ownership deed or fixed-term lease contract documented at the land registry. |
Copy of the lease contract, ownership deed or fixed-term lease contract documented at the land registry. |
Copy of the lease contract, ownership deed or fixed-term lease contract documented at the land registry. |
| Recent public utilities receipt (water, gas, telephone bill) in the name of the borrower or owner that has been issued no more than 3 months ago. |
Recent public utilities receipt (water, gas, telephone bill) in the name of the borrower or owner that has been issued no more than 3 months ago. |
Recent public utilities receipt (water, gas, telephone bill) in the name of the borrower or owner that has been issued no more than 3 months ago. |
| Copy of the valid national ID of the borrower and guarantor |
Copy of the valid national ID of the borrower and guarantor |
Copy of the valid national ID of the borrower and guarantor |
|
Copy of recent tax card verifying that there are no outstanding payable taxes |
Copy of recent tax card verifying that there are no outstanding payable taxes |
| Recent transcript from the commercial registry issued no more than 3 months ago |
Recent transcript from the commercial registry issued no more than 3 months ago |
| Copy of the latest insurance payment receipt |
Copy of the latest insurance payment receipt |
| Recent certificate of trade judgements (objecting by non-payment and bankruptcy) for the last 5 years |
Recent certificate of trade judgements (objecting by non-payment and bankruptcy) for the last 5 years |
| Complete an approved list for income and budget |
Approved income and balance statement for amounts exceeding EGP 100,000 |
|
Certificate approved by the bank with which the merchant transacts, indicating total POS or QR Code transactions in one year; as well as total commissions collected from the merchant in the same year; provided that bank signatures are validated by our Bank. |
| Submitting the account statement associated with the POS, whether from our Bank within 6 months or approved by the bank transacted with during the past year, indicating the volume of cash flows of online sales. |
