Where and how do you apply for a Kafalat loan guarantee?
The borrower has first to approach one or several banks to present the project to be financed by the loan. Different banks have different policies; a project can be rejected by one bank while another accepts it. Different banks may require different collaterals and supporting documents. Kafalat does not interfere in the decision making procedure for the loan approval at the bank. Once the bank has accepted the loan application, it submits the application to Kafalat. In addition to the bank loan documents, Kafalat requires a completed loan guarantee application as well as supporting documents. For the Kafalat Plus and Kafalat Innovative loan guarantees, the banks are not allowed to require additional collateral requirements. In addition, for the Kafalat Innovative loan guarantee, the application can be presented simultaneously to Kafalat and the bank.
