Guarantees for Loans to Small and Medium Enterprises

Documents Required

Mon, 05/06/2013 - 12:38 -- admin
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Documents Required

Required documents related to the borrower:

For Individuals:

  1. Borrower ID and/or Commercial Register.
  2. Recent Central Des Risques report (CDR) from BDL for the borrower and his/her guarantors (report should not be older than three months).
  3. Telephone no.

For Companies:

  1. Identity Card of the partners and the Commercial Register of the company.
  2. Company bylaws indicating the borrowing rights on behalf of the company.
  3. Recent Central Des Risques report (CDR) from BDL for the company, its partners and its guarantors (report should not be older than three months).
  4. Telephone no.
  5. For organizations with a turnover exceeding USD one million per year, a list of employees registered with the National Social Security Fund (NSSF).

Required documents related to the project:

  1. Feasibility study showing the project's financial requirements and means of repayment (any alternative study showing the sources of funding and where they are spent).
  2. Permits or initial approvals from official authorities allowing the applicant to manufacture his/her product or execute the activity or work at business premise. The relevant official authority is function of business sector and location: e.g. Municipality, Ministry of Tourism, etc.
  3. Financial statements for the last three years if available.
  4. List of collaterals related to the loan.
  5. Pro-forma invoices for equipment, raw materials and spare parts to be purchased with the funds borrowed.

Required documents related to the location of the business:

If the location of the business is subject of a rental agreement:
Rent contract and real estate certificate (إفادة عقارية) of the business location. The rent contract needs to be valid for the total duration of the loan, unless it was signed before 1992, in which case the contract does not have to state that its validity matches or exceeds the duration of the loan.

If the location of the business is owned by the borrower:
Recent real estate certificate (إفادة عقارية) of the business location.

Required documents related to applying for a second Kafalat loan, i.e. loans for businesses that previously benefited from a Kafalat loan guarantee:

  1. All official invoices related to the previous loan.
  2. Feasibility study justifying the need to increase the loan.
  3. Financial statements of the previous period.
  4. Bank account statement for the previous loan account.
  5. Report proving the usage of previous Kafalat funding for business expansion.