Jordan Kuwait Bank offers small to medium-sized enterprises (SMEs) a loan to support their business operations, against cash inflows collected from point-of-sale devices and e-commerce channels.

Features:

• Fund amount starts from 5,000 JOD.
• Fund tenor up to more than 12 months.
• Financing up to 70% of the average sales value of payment service providers for the last 12 months.
• Fixed monthly installments
• Availability of loan buyouts. Bank’s terms and conditions to be applied.

Conditions:

• Client must have Point of Sale terminal or e-commerce website for at least one year.
• All revenues collected from POS / e- commerce terminals shall be transferred to customer’s bank account.
• Integrity of company and owner’s credit records.

Required Documents:

• Up-to-date business/commercial registration certificate.
• Valid vocational license.
• Memorandum of Association.
• Valid national ID for shareholders.
• Financial statements; only to companies that are required to submit financial statements, audited in accordance with the provisions of the law.  
• A statement showing the volume of customer sales’ movements carried out on point-of-sale devices/ e-commerce channels, for at least 12 months.
• Bank statement for the last 6 months to recruited customers from other banks.
• Letter of Undertaking by payment companies, to transfer the revenues of the daily client/company executed through their point-of-sale devices/e-commerce channels.

 

For Small Businesses:

In the event of a client’s  late payment, and if the contract signed with the client includes a clause stating the bank's right to collect late payment interest, it must not exceed 1% annually of the interest rate applied at the time to the value of each installment(s) that the client is late in paying