Damascus-SANA
The Savings Bank launched today its new program for financing micro, small and medium enterprises with a set of loans starting from 5 million Syrian pounds and up to 500 million pounds, as part of the bank's continuous endeavor to diversify and develop its credit portfolio.
The bank confirmed in a statement that SANA received a copy of it that its branches in the governorates are ready to receive loan applications from those wishing, starting from the 19th of this June.
According to the program, this product targets project owners for all industrial, commercial, service, tourism, educational and agricultural sectors, where the ceiling of the micro-enterprise loan is 5 million Syrian pounds, and its purpose is to finance the production cycle of the project or the project’s production requirements with a guarantee of one or two workers from the state or the guarantee of a risk guarantee institution Loans with an interest rate of 12.5 percent for a period of 5 years.
As for the loans for small projects, they have a ceiling of 50 million pounds, and their purpose is to finance the production cycle of the project or the project’s production requirements with a real estate guarantee or the guarantee of the loan risk guarantee institution, at an interest rate of 13 percent, for a period of 5 to 10 years.
While the medium-sized projects loan ceiling reaches 500 million Syrian pounds, and its purpose is to finance the production cycle of the project or establish and establish a new project with a real estate guarantee only and an interest of 13.5 percent for a period of 5 to 10 years.
Waseem Al-Adawi
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