Banque Misr funds Small Enterprises at 5% simple diminishing interest rate

 

In the light of the bank’s leading role at boosting the economic development as well as contributing to society development, Banque Misr was keen on the effective participation at the CBE’s initiative for supporting small-sized projects, which aims at fighting unemployment, increasing the gross domestic product (GDP), and achieving sustainable development.

 

Therefore, Banque Misr offers distinct financing products that fulfill the demands of the small-sized projects with annual business value (sales/revenues) ranging between EGP 1 million and up to EGP50million. The financing products are offered at 5% simple diminishing interest rate for the eligible industrial and service activities, according to the following CBE’s terms and conditions:

 

 

  1. Existing enterprises

Sales value ranging from EGP 1 million up to less than EGP 50 million


 

First: Enterprises don’t receive our banking facilities and their business activities are being carried out for more than one year:

  • Submitting the 3 latest certified financial statements or the available statements since   launching the activity in addition to all the documents required for receiving loans and facilities.

  • Companies/ institutions with business volume worth up to EGP10million are allowed to receive finances with maximum period limit of 2 years without receiving their certified financial statements from the auditors.  This is in addition to taking into account the required controls for ensuring the accuracy of the clients’ financial positions.

 

Second: Enterprises with no financial statements enjoying the current banking facilities:

  • Submitting the latest certified financial statement as well as all the documents required for receiving loans and facilities.

     

  1. Newly–  founded enterprises

(The business practice was launched in less than a year)

 

  • Paid-up capital of industrial enterprises ranging between EGP50, 000 to less than EGP 5 million.

  • Paid-up capital of non- industrial enterprises ranging between EGP50, 000 to less than EGP 3 million.

  • Submitting all the documents required for receiving loans and facilities.