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Popular Credit offers subsidized loans for micro-enterprises

2021-10-11T07:55:08.902Z

Damascus, SANA- The People’s Credit Bank issued today instructions for granting loans to finance micro-enterprises in



Damascus-SANA

The People's Credit Bank issued today instructions for granting loans to finance micro-enterprises at an interest rate, supported by the National Social Aid Fund, provided that the bank's branches begin receiving nomination letters from the fund and loan requests as of October 15.

And he benefits from the loans, as the general manager of the bank, Dr. Nidal Al-Arbeed, explained to SANA, the families of the martyrs, the wounded, the displaced families, the returnees from the displacement and the ones who lost their breadwinners and who are supported by women and people with disabilities, in addition to those accepted in the program to support and enable the demobilized to serve science and entrepreneurs who own crafts, industrial, service and commercial professions.

The instructions set the loan ceiling at 10 million pounds for the purposes of capital support and the purchase of fixed equipment for existing projects or for the purposes of establishing new activities.

The interest rate is 8.5 percent for short-term loans for a period not exceeding one year, and 9 percent for medium-term loans for a period not exceeding 5 years. The Fund bears 6 percent of it as a form of social support, while the beneficiary bears the remaining 2.5 percent for short-term loans and 3 percent for medium loans. .

According to the instructions, these loans are granted with personal guarantees for loans that do not exceed 5 million Syrian pounds, and in-kind guarantees for loans whose value exceeds 5 million Syrian pounds, or both.

Waseem Al-Adawi

Source: sena

All business articles on 2021-10-11

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