The Savings Bank has launched micro, small and medium-sized business enterprise financing loans. The bank’s governorate branches are ready to receive loan applications from those wishing to apply as of June 19th, 2022.
According to its official page, the loans target entrepreneurs in the industrial, commercial, service, tourism, educational and agricultural sectors. It includes loans for micro-projects with a ceiling of 5 million Syrian pounds. This is intended to finance the project’s production cycle or project production requirements with a guarantee of one or two workers. The state or the “Loan Risk Guarantee Corporation” guarantees an interest rate of 12.5% for five years.
The bank also launched a small business loan with a ceiling of 50 million pounds, intended to finance the project’s production cycle or the project’s production requirements with a real estate guarantee or the “Loan Risk Guarantee Corporation” at 13% interest for five to ten years.
The medium-sized project loan has a ceiling of 500 million pounds intended to finance the production cycle of the project or to establish a new project with a real estate guarantee only and interest of 13.5% for five to ten years.
All the required details, papers, and documents are available on the Savings Bank website. The Savings Bank is essentially the public institution of the Damascus-based Postal Savings Fund – headquarters is in Damascus, Arnous Square.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.