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My Project

These are loans granted to individuals (or companies) owning small and medium enterprises. Cab provides these loans with facilitated guarantees and conditions.

  • Companies, organizations or individuals with existing business activities.
  • Carefully selected startup businesses which meet prudent credit evaluation.
  • Companies must employee no more than 20.
  • Financing is available to most business sectors.
  • The facility provides liquidity to fund working capital or the purchasing of fixed assets.
  • Finance of up to 200,000 Us Dollars.
  • Loan maturities of up to 3 years for financing working capital including a grase period of up to 6 months and up to 5 years for financing fixed assets including a maximum 12 months grase period.
  • Declining interest (calculated on the outstanding balance).
  • Funding may be provided as a loan or Trade Finance Line, to fund purchases (subject to providing supplier’s bill), with repayment periods of up to 12 months.
  • Real-estate, fixed assets, vehicles and stocks are acceptable collaterals.
  • Salary transfer of the borrower.
  • Employee’s guarantees, whose salaries had been transferred to the Bank.
  • Personal guarantees.
  • An up to date certificate of registration, showing the names of partners and people authorized to sign on the company’s behalf with copies of their identity cards.
  • A copy of the memorandum of incorporation.
  • A copy of the internal regulations of the company which indicates that the company has the right to take loans from the banks must also be provided.
  • Whereas, IF the applicant is an individual a valid license for practicing a profession or craft, issued by the Chamber of Commerce and/or the Municipality, with a copy of the applicant’s identity card must be produced.
  • Applicants should provide a bank account statement for the last three months.
  • All Documents should prove the availability of funds for repayment: Financial statements for at least the last two years (audited financial statements, unaudited budget, sales tax report, and the enterprise books for review).

Note: All of the above terms and conditions are subject to CAB’s loan-granting policies.

And all the guarantees are subject to the terms and conditions of CAB.

 
 
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