Professional Loans

Professional loans is a special package offered for Doctors, Dentists, Pharmacists, Hairdressers, Nurseries, Bakeries, Bookstores and Mini Markets.

Loan Characteristics 

• Currency: USD
• Maximum Amount: $100,000
• Repayment Period: Maximum 6 Years
• File Fees: Zero
• Applicant's Age: 21 to 64 years at loan maturity
• Interest Rate: Regressive - Variable Interest Rates for loans in USD: Currently 15.88% to be reviewed every year

Eligibility Requirements

Client Requirements:

• Applicant should be Lebanese

Required Documents:

Personal Documents:

• Copy of ID or copy of valid passport
• Company legal documents (commercial circular, commercial register, etc)
• Proof of business location: Either certified valid rental contract, or copy of the real estate certificate which must not be older than 1 month
• Syndicate Card orاذن مزاولة مهنة (if any)

Proof of Income:

• The income of these professionals lies in 2 segments: The proven income and the not proven income:
  • The proven income is the one observed through a bank statement of account or declared financials: In such a case, a bank statement of account for the last 2 years will be provided in addition to financials** and Site Visit Report (if needed)

    **the said financials will be shown in the application or could be provided by the applicant (if available)

     

  • The not proven income, which is based on cash dealing, will be assessed as follows:
    • Clear declaration from the applicant of his monthly net income
    • Clear and complete filling of the net worth statement in the application
    • Other available proof of income, such as a copy of the daily sales journal of the applicant, list of suppliers and invoices, etc.

       

• Life insurance will be financed on top of the loan amount
• Fire and damages insurance will be requested on a case by case basis and the premium will be paid by the client on yearly basis.

Cedrus Bank reserves the right to review/amend the conditions and terms specified in this proposal at its discretion and without prior notification. Terms & conditions apply.