- Purpose of Financing: This program aims to finance the acquisition of (New and Used) vehicles through a reduced loan based on providing a financing option to SMEs.
- Target Sectors: ALL Economic Sectors.
- Loan Amount: The maximum loan amount is (JOD 500,000) and the minimum amount is (JOD 10,000).
- Loan Duration: brand-new vehicles (7 years) except for rental cars ( 6 years) and USED Vehicles ( 5 years) and minimum of one year.
- Tenor Period: up to 6 months maximum and calculated within the total period of above payment.
- Interest Rate and Commission: 9% and 0.5% commission (first year only).
- Funding Ratio:
- Private cars , pick-ups, cargo :
- 100% (brand-new vehicles).
- 90% (used vehicles)
- Rental cars and delivery cars : 80% for brand-new vehicles only.
- Mobile equipment :
- 90% brand-new and 80% used.
- Chinese vehicles :
- 50% for all vehicles except ( Geely) and ( MG) according to the above categories.
- Terms of Financing:
- The name of the company or partner must not appear on the list of returned cheques.
- The name of the company or partner must not appear on the watch list (sanction)
- No past dues showing on inquiries and provide a proof of commitment.
- Minimum of one year business operation period
- Must obtain a bank statement for one year , with no returned cheques for insufficient balance (if applicable)
- Financial solvency for grantors
- Must not have any financial issues or any negative indications within the CRIF system.
- The monthly interest is paid during the grace period from the customer's sources.
This financing program runs from 31/5/2023 till 30/5/2024.