Pharmacy Financing Program
Suez Canal Bank created a special
financing program for pharmacies, one of the country's key sectors that impacts
people's health daily. The program helps pharmacies boost their revenues, grow
their profits, and achieve their expansion aspirations.
Suez Canal Bank offers easy to
obtain commercial and Islamic financing to support the pharmacies' operational
needs, including stock, equipment, and information systems.
Benefits:
Borrow up to EGP 2,000,000
Borrow up to 30% worth of last year sales
Terms up to 4 years
Newly established pharmacies are eligible
Current accounts with multiple benefits
Competitive interest rates
Quick and simple procedures
Conditions and Documents:
Egyptians aged at least 25 years and should be under 65 years at the loan maturity.
Pharmacy location is owned or leased for the complete loan tenure.
Valid license to open private pharmacy.
The pharmacist should be running the project full-time and should submit a resume.
Full-time project management.
Completed or exempted military service.
Copy of the national ID card, pharmacist syndicate membership card, recent commercial registration, and copy of a valid tax card.
A recent utility receipt of the pharmacy, the annual financial statements and the auditor's report (or a sales and costs statement).
A recent purchasing volume from pharmaceutical companies or distributors.
A quote for the assets to be funded (in case of financing devices).
Signed financing application.
YOUR LOAN, YOUR AID
Program overview:
Your Loan, your Aid provided by Suez Canal Bank for financing product for small and medium-sized enterprises (SMEs) in various activities up to 5 Million EGP, for 5 Years with simplest and easiest procedures.
Program features:
The new product provides financing of up to EGP 5m for SMEs operating in commercial and industrial activities, specially contracting, and activities related to renewable energy.
The financing provided with a special interest rate and a repayment period of up to 5 years.
Required documents:
A photocopy of the national IDs for all partners and guarantors.
A new commercial register, a new tax and Social insurance record.
Financial Statements for the last 3 years, bank statement for last year.
The applying companies must also provide a written quotation, in the case of financing machinery, equipment, means of transportation.
* Terms and conditions apply