SMEs are a fundamental part of the economy in developed and developing countries. EBE has taken the initiative to finance SMEs sector through signing an agreement with the IFC, a world bank subsidy, which provides technical assistance, risk assessment tools as well as financing guarantee schemes and policies.
Accordingly, EBE finance small & medium enterprises with annual turnover that ranges from EGP 1 M to EGP 200 M; the bank finances companies in different economic sectors (industrial, agricultural, trade and services) and specially the export activities of such sectors.
EBE provides finance to small and medium enterprises according to CBE initiatives as follows:
• Financing working capital and/or capital expenditure for small enterprises with interest rate 5% annually.
• Financing capital expenditure for medium enterprises with interest rate 7% annually.
These financing services are offered to SMEs to suit the nature of their work as well as their needs.
These services include:
1st: Financing working capital needs during various production stages as follows:
a. Local operations finance:
- Commercial paper finance (checks/bills)
§ Goods finance
§ Purchases order finance
§ Local L/C s
§ Issuing letter of guarantee
b. International operations finance:
- L/C s (imports /exports)
§ Collection (import/export)
§ Financing export contracts, international purchase orders and/ or export L/Cs
§ Discounting export documents under confirmed L/Cs
§ Financing exporters’ receivables from the Export Development Fund
2nd: Financing capital expenditure (expansion / renovation) and start up projects.
- also began to finance micro enterprises indirectly through financing the micro finance associations.
§ Terms and conditions apply