As of tomorrow, the popular credit branches are ready to receive applications for loans for micro, small and medium enterprises.

Damascus-SANA

The People's Credit Bank announced the readiness of its branches in the governorates, except for Deir ez-Zor, Daraa, Hasaka, Raqqa and Idlib, to receive citizens' requests, starting tomorrow morning, to enable them to obtain productive loans for micro, small and medium enterprises.

The director of credit at the bank, Adnan Hassan, explained in a statement to SANA that the loans will be granted in accordance with the new instructions, controls and conditions announced on the fourth of August, indicating that granting loans to micro-enterprises will be with a ceiling of 30 million pounds, for small projects with a ceiling of 200 million pounds, and for medium-sized projects with a ceiling of 500 million pounds. pound.

Hassan pointed out that the interest rates imposed on the entire value of the loan throughout the repayment period, whether short, medium or long-term, range between 8.5 and 10 percent, and the repayment periods are either one, three years, five years or 10 years.

As for guarantees, Hassan indicated that loans up to 5 million pounds accept personal guarantees, while in-kind guarantees are required for loans exceeding 5 million pounds, covering 150 percent of the loan amount and its interests if they are real estate, but if they are (investment certificates, deposits, current accounts, certified checks, and bank guarantees). It must cover 125 percent of the loan amount and its interests, bearing in mind that the bank can accept both personal and in-kind guarantees, provided that the estimated value of the in-kind guarantee is not less than 75 percent of the value of the loan and its interests.

Waseem Al-Adawi