Special Conditions

• The borrower must commit to making a minimum contribution of 10% in equity either in kind (subject to Kafalat’s approval) or in cash towards the cost of the project.
• Loans may only be approved for the renovation or extension of premises, machinery and equipment, and working capital.
• Loan applications may be presented simultaneously by the client to the commercial bank and to Kafalat. Kafalat is entitled to issue a Letter of Intent to grant the applicant a guarantee.
• The lending bank is not allowed to require from the borrower any collateral apart of the Kafalat loan guarantee.