Capital Bank announced the launch of new catered programs and services offering exclusive benefits that would help small and medium enterprises (SMEs) in Jordan accelerate their businesses.
The launch of this campaign is in line with the Bank's continuous efforts in becoming the "first choice for SME owners." This step has been taken due to the important role this sector play’s in supporting the national economy, as it contributes to generating new jobs and revenues.
"Capital Bank sees great importance in supporting SMEs due to the increase in demand for financing solutions. This segment accounts for about 98% of companies operating in the Kingdom," said Haytham Kamhiyah, General Manager of Capital Bank.
Kamhiyah pointed out that Capital Bank offers, as part of its strategy, specialized and comprehensive financing options for various industrial and commercial areas and activities, and businesses, which are classified under the SME sector. These finance products include: working capital financing for purchases inventory, financing of working capital for private and government contracts, housing financing, working capital financing against postdated cheques and financing fixed assets. These products are offered either through the Central Bank's advances at preferential rates and long and flexible repayment periods or through Capital Bank directly where SME owners will be able to obtain the Bank's approval for the financing of their projects within 72 hours when it comes to the specialized programs. In addition, SMEs are able to obtain loan guarantees through local and international institutions, such as OPIC and JLGC, against 60% for projects within Amman and 75% for projects outside Amman.
"We understand the importance of providing outstanding and quick services for the development of businesses," Kamhiyah added. "This is exactly what we have been focusing on during this period, as customers today look for advanced services and innovative financial solutions at the same place. Therefore, the Bank's management has mandated some branches as specialized service centers aiming to serve this sector and cover different areas where SMEs operate in order to facilitate procedures for them."