| SMEs | |||
| Name of responsible organization: Palestine for Credit and Development (FATEN) | |||
| Website: www.faten.org | |||
| NATIONAL OR LOCAL | Local | ||
| Starting year | 2015 | End year | – |
| Short description of the program Productive initiatives, projects, businesses, and organizations linked to many economic sectors looking to expand their current initiatives. The product addresses both the new polarized segments and current Faten customers. |
What kind of activity does this project finance?
| Creation of new businesses | Yes |
| Strengthening of existing businesses | Yes |
| Specific investments – specify the type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods), | We provide funding for all industries that provide products that include (Agriculture, Industry, Trading, Services, Tourism, and ITC). The funding could cover operating costs, fixed assets, working capital, new line productions, and operational expenses. |
| Training activities | Yes. We can finance training activities. According to the type of loan and its intended use. |
What type of financing is it?
| Low-interest loan (indicate the repayment time and, if present, the requirement for collateral) | Yes repayment time (years): Up to 5 years (The repayment time depends on the purpose of the loan). The requirement for collateral: It is necessary to have two distinct types of guarantees, but only if the coverage rate is at least 100% of the financing value, including interest and insurance costs. The capacity of the project’s anticipated cash flows to meet all of the borrower’s operating requirements and the capacity to service the debt. |
| Non-repayable grant (indicate the percentage of the non-repayable fund) | Yes, 0% |
How does the activation of the project work?
| One-stop-shop (physical or virtual), where the potential beneficiary can go whenever he/she wants. | The beneficiary has three options for making payments: in person at one of our branches, online (through e-wallets, PayPal, Internet banking), or by transferring money from another bank account into one of our bank accounts. Our 35 local branches serve more than 500 Palestinian cities, villages, and camps. |
| Call with closing date | – |
Financial entity of the measure (indicate the resources allocated)
| Overall amount | 40,321,360 |
| % facilitation for each beneficiary | |
| Minimum amount that can be financed | 25,001 USD |
| Maximum amount that can be financed | 75,000 USD |
| Origin of financial resources (European, State, Regional Authority, Municipal authority, other) | Local and foreign funders. Funds from Europe, Middle East, local banks or from the portfolio. |
Type of funded social structure (indicate if belonging to a specific category is required in order, to access the project)
| Female (MUST) | Over 50 | Unemployed | Disadvantaged groups | Youth (18-24) | Other (specify) | |
| New Ideas | Yes | Yes | 18-35 | |||
| SME/ Existing Businesses |
Does the project provide for accompaniment and training or only financial support?
| Financial support + accompaniment/training | Yes |
| Only Financial support |
How many initiatives have been financed in the last 3 years and for what economic amount?
| Number of initiatives 1,117 | Total economic amount 52,126,845 USD |
