If you want to start a project to supplement your income and you cannot find financing, what do you do? Are there any banks that offer you loans in the millions and with many facilities as well? What are the best banks and the best loans and what are their conditions? We will tell you all the details in this report, so follow us until the end.
Many young people want to start a project of their own. They have an idea for a profitable project, but they lack financing or the money to start with, so Nasser Bank offers them a loan to finance the project in 2025. The procedures for obtaining it are very easy, and the financing can reach 20 million pounds.
What are the details and conditions of this 20 million pound loan in 2025?
Look, sir, Nasser Social Bank finances small projects, the beginning of which is an idea, and its goal is to motivate project owners and citizens to integrate into the formal economy to achieve financial inclusion, and the goal of this is also to create the necessary climate and encourage and motivate citizens to enter the labor market through projects. D.
Hence, we can say that the value of Nasser Social Bank’s financing for small projects starts from 200 thousand pounds and a maximum of 20 million pounds per customer, and the financing period starts from one year to 5 years.
What are the documents required to obtain Nasser Bank financing for 2025?
The client must submit a set of documents in order to obtain financing for small projects from Nasser Bank, such as a copy of a valid national ID card for the client and the guarantor, and also a criminal status report addressed to the bank, which is not older than 3 months and indicates that there are no criminal convictions against him. It is also necessary to present an ownership contract. Or rent for the activity headquarters and warehouses with a fixed or documented date that covers the financing period
And do not forget, submit a receipt for the facilities to the activity headquarters and warehouses that is not more than 3 months old, and a recent extract from the commercial registry that is not older than 3 months as well, all of this along with a copy of the tax card + a certificate of the tax position, and also provide an insurance certificate for the project, and the required licenses. Temporary or permanent impairment of activity.
Also, the required documents include a certified copy of the financial statements of the existing activity or a feasibility study for new activities, a certificate of non-bankruptcy, and a recent non-payment statement not exceeding three months from the date of its issuance in the name of the client.
If you do not know, Nasser Social Bank offers financing services for car purchases and real estate financing. The bank also finances public transportation projects, productive and in-kind investments, investment operations, and other activities that help young people.
In addition to Nasser Bank, the Bank of Egypt also launched the Express Murabaha system for small projects using the Sharia leasing system in accordance with the provisions of Sharia, which reaches the value of financing to 5 million pounds and a repayment period of up to 5 years.
Banque Misr allows financing approval within only 5 working days, and the customer can submit only 5 documents for the loan.
What is the interest rate on this loan?
Look, sir, if you run a small project, but it is subject to the initiative of the Central Bank, you will receive a low rate of return of up to 5%, while for the rest, the rate of return will be decreasing, and it includes all the burdens for companies that are not subject to the initiative of the Central Bank.
Also, financing is available to individual establishments whether they have an account in the Bank of Egypt or not, and also to companies of individuals who have an account in the Bank of Egypt only, but the capital must not be less than 50,000 pounds, and the age of your project must not be less than one year.
We come to the advantages of this financing, the first of which is flexibility of demand, which means that the customer is able to choose the amount and financing period that suits the needs of his project.
The second thing is the possibility of tracking the stages of your request for financing with complete transparency, and after a while you can obtain your profit within 5 working days from the date of submitting the request, and only that, sir.
Aside from financing your project, Banque Misr also provides loans to purchase used cars.
This loan is available to employees in government agencies, the public sector and public businesses, as well as employees in the private sector, and professionals and freelancers.
As for the terms per year, it is a competitive return rate, the minimum age of the borrower is 21 years, the maximum loan is 4 million pounds, the financing rate is 100%, and the financing period is up to 72 months.
If you want to apply for this loan, some documents are required, such as a copy of a valid national ID card, an original receipt for utilities at the client’s residence (gas, electricity, water, telephone), a copy of the car license, and also a paid-up car insurance policy in favor of the bank.
If you want a loan from both, collect your papers and go to the nearest branch of Banque Misr or Nasser Bank in your area.
