Financing the Program of Supporting Woman Projects (Bent Masr)
First: Targeted category:
-The Egyptian woman who supports herself or her family or who helps with the family living expenses
Second: Projects to be financed:
-The program aims at financing microenterprises, whether (agricultural/ agricultural processing/ industrial/ commercial/ service enterprises)
-Service enterprises such as (poultry breeding, livestock, bread production, dairy processing, pickles, clothes manufacturing, processing and packaging of vegetables and fruit, small grocery, stalls….etc.)
Third: The maximum limit of funding
-The minimum loan value is EGP1000 and the maximum is EGP 10000
-In the case of groups (at least three individuals), the maximum loan value is EGP 25000.
Fourth: The proposed debit interest rate
-An annual debit interest rate of 2% is applied over the lending rate and deduction without any commissions or administrative expenses.
Fifth: The required documents:
-A Copy of the valid national ID card of the borrower and the guarantor (after reviewing the original and indicating that it is a true copy).
-Recent facilities receipt (electricity- Gas- telephone) of the place of residence in the name of the customer or one of her relatives of the first degree. It shall not exceed a period of three months and shall indicate the actual consumption. It shall also be identical with the address listed in the national ID card of the customer
-A copy of the lease or ownership contract of the place of residence and of the location of the project to be funded (the duration of the lease contract shall not be less than the duration of loan repayment), (after reviewing the original and indicating that it is a true copy)
-An authorization from the finance applicant and the guarantor if any to allow the bank to check their accounts with the banking system and the Central Credit Registry (CCR) of the Central Bank and I- Score Egypt in accordance with the Central Bank Instructions
-Report of the field visit of the customer, the guarantor and the project location
-An acknowledgment by the customer not to transfer or change the place of the activity and the residence to another place without notifying the bank
-The borrower and the guarantor (if any) shall get a bank check or promissory note in favor of the bank.
-Submitting a certificate from the local unit which the project is located in its scope to prove that there is no objection to establishing the project
-Submitting the guarantee of the credit risk guarantee company at a minimum of 50% of the finance value or of any other entity insuring against non- payment risks