Nature of the product

A reducing loan that can be renewed annually after Full payment and account review (granted once a year).

Target group

Doctors and clients with Gulf Insurance Group

Individual institutions and companies classified as small and medium enterprises that have dealings with Gulf Insurance Company and operating within the following sectors: 

•     Pharmacies licensed and registered in the name of a practicing pharmacist, Medical Laboratory
•    CT and radiology centers
•    Physical therapy and rehabilitation centres
•    Medical and treatment centers

Target customers

•   Existing bank clients and companies that deal with Gulf Insurance Group
•   Clients of other banks that deal with Gulf Insurance Group

Repayment period

The repayment period for the financing is up to 12 months installments including interest

Loan Amount

The maximum loan amount is JOD 100,000 and not less than 10,000

Interest Rate

%10

Commission

1%  for one time

Payment sources

The value of the company’s receivables is transferred from the insurance company to its account with the Jordan Kuwait Bank, pursuant to a letter of transfer from the Gulf Insurance Group, and the pledge is renewed for each new grant transaction.

Financing conditions

•          The client’s experience in their field must not be less than two years
•          Dealing with Gulf Insurance Group for at least two years
•          The company or institution must be of Jordanian nationality or owned by a resident Jordanian citizen
•          That there are no returned checks due to insufficient funds on the customer that have not been settled (returned checks )
•          The client's name does not appear on the blacklist
•          Must not have any financial issues
•          Must not have any negative indications within the CRIF system.