In efforts to support Egyptian Business Women, the Commercial International Bank (CIB) is offering female entrepreneurs a package of credit facilities within the Women’s Business initiative, designed to support female owners of small and medium-sized companies, in addition to a distinctive set of non-financial services and digital solutions to help them develop their projects.
The bank has developed a financing program dedicated to businesswomen to help female entrepreneurs grow their investments, which is the first of its kind in Egypt, by financing short-term overdrafts to finance the investment needs of business banking customers, including supplier expenses, overhead costs, salaries, tax, and customs dues, in addition to issuing initial and final letters of guarantee. The advance payment is partially covered to support the company’s activities for existing and new customers.
Details of the “Women in Business” program from CIB Bank:
- The program targets customers whose total annual sales range between EGP 1 M and EGP 200 M.
- The credit limit is up to EGP 7 M.
- 10% of the financing value can be issued in the form of a corporate credit card (up to a maximum of EGP 250,000).
- Fewer requirements to get the facility.
- Client Relationship Manager.
- The interest rate is subject to the initiatives of the central bank.
Documents required to apply for financing:
- Recent commercial register.
- Personal IDs of partners and those who have the right to sign.
- The last 3 financial statements of the company.
- Recent bank statement – 12 months.
