The Industrial Development & Workers Bank of Egypt offers funding for franchise businesses, whether existing or new projects, and for both local and international projects.
The bank provides funding for all production, service, and commercial activities, including economic, industrial, livestock, poultry, tourism, and agricultural projects.
The bank finances the purchase of new machinery, spare parts, and working capital for these projects, both new and existing. It also finances construction, buildings, and equipment, as well as financing commercial franchise fees. The bank also provides the possibility of financing the purchase of local or imported machinery and equipment after approval by the franchisor.
Moreover, the Industrial Development & Workers Bank of Egypt is targeting young graduates of both sexes with higher, intermediate, and above-intermediate qualifications, as well as existing small-scale franchisees wishing to expand and develop their activities, in addition to experienced small project managers of professionals and craftsmen, along with entrepreneurs and investors with the potential, technical qualifications, and scientific management expertise to achieve success of the franchise project but without enough capital to start the project.
The bank’s funding for these projects ranges from EGP 10,000 to EGP 250,000 if project owners can contribute 15% of the total investment value required. If project owners can contribute 25%, the bank can then offer funding of EGP 250,000 to EGP 2m.
The interest rate on these funds amounts to 105% on the basis of simple interest. The bank also grants a grace period of up to one year. The repayment period differs according to the nature of the project and the time for capital to circulate, as long as it remains under four years, aside from the grace period.
The bank requires the owner of the project to have legal capacity, good conduct, and literacy.
The bank also requires that the owner of the project be unemployed and based in the same location as the project, as well as provide certificates proving completion of military service, exemption, or postponement.
