Experience Loan

Do you have a registered business?

Do you have experience in your business?

Do you want to expand your business and cover your day-to-day or emergency funding needs?

FINCA Microfinance Jordan help you in funding your business through the Experience Loan.

Advantages

  • For small businesses owners

  • Easy procedures

  • No formal collateral required

  • Declining interest rate

Payment Methods

  • FINCA Jordanbranches from 8:30 AM till 4:30 PM

  • All bank offices

  • EFawateercom

Apply for a loan
962 799000466
Life Insurance Calculation
  • Currency: JD

  • Loan Amount: From 2,001 to 10,000 JD

  • Loan Term:

    • From 2,001 to 5,000 JD up to 36 months
    • From 5,001 to 10,000 JD up to 48 months
  • Nominal Interest Rate:

    • 2,001 – 5,000 JD – 25 % Annual Declining
    • 5,001 – 10,000 JD – 22 % Annual Declining
  • Application Fees :1% of the loan (deducted from the total loan amount). Stamp fee and sales tax will also be deducted as per respective calculations.

  • Life Insurance Fees: Life insurance fees are calculated at a certain percentage according to the loan amount.

    To Know how calculate life insurance fees please click to the LIFE INSURANCE CALCULATION BOX.

  • Sales tax on interest , fees and charges:

    Interest, fees and all charges are subject to the 3% general sales tax . Also the disbursed loan amount is subject to the duty stamps law.

  • Repayment Frequency: Monthly

  • Required Documents:

     – From the client: 

    • Copy of the national ID.
    • Copy of family registration book.
    • Proof of residency.
    • Business registration certification and occupancy permit.
    • Business rental contract for the business.
    • One or two guarantors.

     – From the guarantor:  Proof of income.

    Up to 1 year bank statement is required from the account where post-dated cheques are issued. This could be either from client or guarantor.

  • Effective Interest Rate (EIR):

    • From 31.68 % – 35.72 %
    • From 27.61 % – 31.68 %

    It’s depending on loan duration and amount.