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Daam Loan
If you want to finance your new project or expand your existing one while benefiting from the most competitive conditions, Fransabank offers you its Daam Loan the best support program for your business ideas.Daam loan, subsidized by the Central Bank of Lebanon, helps you purchase needed equipments, refurbish your business premises, finance any new project or develop your existing one.
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What do you get?
Loan amount: starting at USD 30,000
Repayment period: between 5 and 7 years
Interest rate: in USD Libor (3 months) + 7% subsidized by the Central Bank of Lebanon
Grace period: between 6 months and 2 years
Free pre-approved "Business" credit card
Exemption from file fees and commissions
Free access to our internet banking - iBank, telephone banking - Call center and SMS alerts services
What are the eligible sectors?
Daam Loan is provided to all self-employed clients whether an individual, an establishment or a company, operating in any of the following sectors:
Agriculture & Apiculture
Industry
Tourism
High technology
Handicrafts
How can you repay your loan?
During grace period, you only settle the interest amount
During the settlement period, you settle your installment on a quarterly basis
Required Documents
Personal documents required from client and/or partner (s) and /or guarantor
Copy of identification card or valid passport or civil register
Place of residence such as copy of title deed or rent contract or mayor attestation or electricity, phone , or water bill
Real estate certificate for plots subject to collateral such as mortgage, negative pledge or proxy to mortgage
Financial statements for the last 6 months for existing clients
Documents proving legal status and income
Copy of company's circular, by-laws and certificate of registration
Copy of documents related to If business location
If owned: real estate certificate
If rent: last rent contract
Copy of syndicate membership (if available)
Feasibility study including the cash flow projection for the period of the loan validated by an expert in the field. For term loans, feasibility study with details on projected revenues and expenses.
Financial statements for previous years, up to 3 years (If sales turnover is above USD 500,000 financials must be audited)
Lists of main clients and suppliers indicating the amount and terms of payment/settlement
Latest company bank account statement for the last 6 months (if available)
Copy of the latest fire and life insurance policies (if available)
Additional documents for Kafalat , Daam, Commercial Property Loan and Commercial In-Site Loan
Copy of the rent contract for the duration of the loan
Related permits from concerned authorities for industrial and touristic companies
Related permits from concerned authorities for gas stations for Beirut region and municipality certificate for other regions
In addition to above for Commercial Property Loan Only:
Municipality attestation proving that applicant is not renting the premises subject of the loan.
If your company belongs to any of the below categories, these legal documents should be also provided
For SAL
Photocopy of the minutes of the first Board of Directors meeting
Photocopy of the minutes of the last General Assembly meeting that elected the members of the actual Board of Directors
Photocopy of minutes of the last meeting of the Board of Directors that elected the actual Chairman and fixed his prerogatives including the right of indebtedness for himself or for any other designated person
For SARL
Photocopy of the minutes of the last meeting of the General Assembly that has elected the General Director and fixed his prerogatives including the right of indebtedness
For SCS & SNC
Photocopy of the partnership contract with all the amendments that have occurred
Minutes of meeting of the partners that granted the right of signature, especially the right of indebtedness, in the name of the company
For Sole Proprietorship & Individuals
Certificate of Trade practice
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