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What measures are taken to grant the loan?

Submit an application in the nearest branch to the borrower

The Lending Officer will inquire the Palestinian Monetary Authority about the borrower and the guarantor’s financial obligations and situation.

Upon receipt of the Palestinian Monetary Authority's response (if positive), the Loan Officer will carry out a field visit, for productive loans, to the borrower’s project to ascertain the accuracy of the data and information provided by the Borrower.

The borrower and the guarantors are called in order to sign the agreement, coupon and all other needed supporting documents.

Loan is disbursed by check.

What is the ceiling of granted loans?

$ 15,000

What are the conditions that must be available by the guarantors?

  • Salary slip
  • Career Proof
  •  Holds a Palestinian identity
  • Good credit record

What is the interest rate and is it uniform for all products?

Ranging from 8% to 18% by product.

What are the conditions and guarantees to be provided by the borrower?

  • Consumer loan: Purpose of the loan, Palestinian identity, proof of income
  • New projects: economic feasibility study, project licensing from the authorities, proof of ownership / lease, cash flow data.
  • Established projects: Licensing of the project from the authorities, proving ownership / lease, cash flow data.

How much is the monthly installment?
Between $ 100 and $ 500.

What are the procedures for delayed payment?

  • The borrower is exposed to suspend interest.
  • If the delay of more than two installments, ACADF addresses the guarantors.
  • If the delay of more than 3 installments, the loan file is transferred to the judiciary parties.
  • It is possible to re-structure the loan if the project did not succeed for reasons beyond the control or will of the borrower.

Is it possible to repay the loan early? yes

Is it possible to postpone the payment? yes

Is it possible to postpone the payment?  yes

What is the commission rate on each loan? Is it fixed on all products?

From 0 to 2% by product

What is the grace period and is it consistent for all products?

Ranging from 31-90 days depending on the product.

Do your policies allow you to get more than one loan?

The Company allows the Borrower to receive a maximum of two loans.

How much is the application fee?

Only 25 NIS

What is the clearance form?

It is a certificate issued by the company proving that the borrower has paid all the obligations assigned to him to the company in relation to the loan previously received.

Is it possible to renew the loan?

Yes if the borrower have already paid 50% or more.

Is it possible to re-schedule?

Yes, if the project is not successful for reasons beyond the control of the borrower.

Is it possible to refinance? yes

What is a feasibility study?

It is a simplified study prepared by the lending staff for the projects to be funded showing the financial status of the project for a period ranging from 3-5 years.

What are the Palestinian Monetary Authority's inquiries?

The Palestinian Monetary Authority’s inquires is a mechanism followed by all lending institutions and banks to inquire about the financial situation of the loan applicant to know the financial obligations of the borrower before a decision to grant the loan or not.

What is the concept of unification of indebtedness?

Is to integrate all loans received by the borrower into one new loan with installments capable with the borrower's ability to repay.

Is it permissible for a borrower with a loan from his institution to lend to another to get a loan from your institution? yes

What is the expected time to get the loan amount?

Within two weeks from the date of submitting the loan to a maximum.

What is the target age group for your finance programs?

From 18 to 60 years old

What is meant by delay penalties?
They are the benefits of the company to meet those installments due which have been overdue for more than 30 days and are not paid.

Does your services cover all economic sectors? Yes

Do you have offices and branches in the West Bank and the Gaza Strip?

Yes, except for Qalqiliya.