Micro Finance Projects

Description

Products from 5000 up to 50000 EGP

Products More than 50000 up to 250000

Loan Value

From 5000 EGP up to 15000 EGP

From 15000 EGP up to less than 30000 EGP

From 30000 EGP and up to 50000

More than 50000 EGP up to 100000 EGP

More than 100000 EGP and up to 150000 EGP

More than 150000 EGP and up to 250000 EGP

Targeted Sectors

Commercial – Industrial – Service-based

Excluding the unauthorized activities (Agricultural, Animal, Poultry, and Fish production in addition to transportation means). 

Required Documents

• A copy of the lease or ownership contract or a copy of the fixed-term lease contract where the date of which is registered at the Notary Public.
• Copy of the valid national identification card of the borrower and the guarantor.
• Recent utilities bill (water – gas – electricity – telephone bill), not exceeding three months, holding the name of the borrower or the owner of the place of activity.

• A copy of the lease or ownership contract, or a fixed-term lease contract where the date of which is registered at the Notary Public.
• Copy of the valid national ID card of the borrower and the guarantor.
• Recent utilities bill (water – gas – electricity – telephone bill), not exceeding three months, holding the name of the borrower or the owner of the place of activity.
• Copy of the tax card and a recent certificate of tax standing evidencing that there is no due tax payable by the entity.
• Recent extract of the commercial register not exceeding 3 months.
• Copy of the last insurance payment receipt, not exceeding 3 months, or (insurance printout evidencing the payment of the subscriptions in full during granting the loan).
• Recent certificate of commercial judgments (pleading the failure to pay or bankruptcy) regarding the previous last five years.
• Approved income statement and balance sheet (as for the second and third bracket).  

Loan Period

From 6 months up to 24 months

From 12 months up to 36 months

Installment Period

Monthly Installments

Interest Rate

28% annual diminishing interest rate.

(equivalent to 15.5% simple interest rate)

20.75 % annual diminishing interest rate.

(equivalent to 11.6% simple interest rate)

Description

Products from 5000 up to 50000 EGP

Products More than 50000 up to 250000

Required Documents

In addition to the aforementioned documents:-

• A letter from the local unit or the district within its geographical scope the location of the client's project lies concerning assisting the bank in following up on the financed projects and cutting-off the utilities in the activity’s location in the event that the customer fails to comply with the payment of three installments, while exempting the projects operating within the owner’s household.
• Copy of the Military Status Certificate as for the clients under 35 years old.
  
   

In addition to the aforementioned documents:-

• A letter from the local unit or the district within its geographical scope the location of the client's project lies concerning assisting the bank in following up on the financed projects and cutting-off the utilities in the activity’s location in the event that the customer fails to comply with the payment of three installments, while exempting the projects operating within the owner’s household.
• Copy of the Military Status Certificate as for the clients under 35 years old.
• Copy of the activity license “permanent or temporary” and in the event that the activity is not licensed, then a letter evidencing so shall be received from the local unit / district. 

Interest Rate

28% annual diminishing interest rate.

 (equivalent to 15.5% simple interest rate)

17.75% annual diminishing interest rate.

(equivalent to 9.9 % simple interest rate)

The General Rules for Granting the Loan

• The activity of the client shall be within the scope of the city, in which the branch granting the loan is located, and the villages and centers (Marakez) affiliated to it, in addition to the neighboring cities and the centers of governorates where there are no branches for Banque Misr or where there are branches that do not provide such service.
• The activity must be established since one year at least, whether the client practices the activity and continues practicing it from his place of residence or the client has a separate place of activity (except for the products of Mashroak 1 and Mashroak 2; loan is granted for new projects, provided that three months shall elapse since the registration of the project).
• The existence of joint guarantor whom is inquired about a comprehensive and good inquiry.
• The client owning the project must be holding the Egyptian nationality; and must be of full capacity and good reputation; and his age shall not be less than 21 years old and not more than 65 years old at the loan maturity date; however, in case the client’s age exceeded 65 years old, then the guarantor’s age shall be less than 60 years at the loan maturity date.
• The client or his guarantor, at least, must have the ability to read and write.
• One loan is granted for both the customer and entity together; and concerning companies, no more than one partner shall borrow for the same entity.
• The guarantor of the client requesting the loan shall not be a minor and shall not be guaranteeing another client.
• The score of each of the client, guarantor and entity in I-Score’s assessment report shall be at least “Satisfying”.
• The value of the monthly installment shall be appropriate to the profits that the customer receives from the project.
• There shall not be bilateral guarantees between the debtor and guarantor.
• The client shall not receive loans for existing Small Enterprises before receiving the approval on granting him/her the microfinance.