Mashreq offers small business loans
Manama, September 28, 2011
Mashreq Bahrain, one of the leading financial institutions in the region, has launched a product that is specifically designed to meet the lending needs of small businesses in Bahrain.
Small Business Loan will offer tailored financial solutions to customers for growth of their businesses, a statement said.
Small Enterprises with a minimum annual turnover of BD150,000 ($398,000) and operation period of three years, can apply for a loan up to BD30,000 offering flexible repayment terms up to 48 months with less documentation required all with a quick turnaround time.
The new facility also comes with a full suite of banking solutions to accommodate all SME’s financial needs.
“We are committed to delivering convenient products to our customer based on their financial requirements,” said Iqbal Hasan Khanyari, country head, Mashreq Bahrain.
“This latest product by Mashreq Bahrain complements the bank’s dedication to supporting the growth of Small and Medium Enterprises (SMEs) in the country.
The Small Business Loan is one more addition to the wide range of products and services that we offer to boost the SME segment in Bahrain and extend the necessary financial tools required for its growth,” he added.
The latest product offering aimed at SME customers is in line with the Bahrain Government’s initiatives to support the growing needs of the SME segment, which will impact the overall growth of the market. – TradeArabia News Service