Workshop in Jezzine on financing SMEs

In cooperation with the Federation of the Municipalities of Jezzine, BLC Bank organized last Saturday a workshop on Kafalat and Central Bank of Lebanon financial services to small and medium enterprises. The SME Credit Officer at BLC, Banwa Eid, outlined the financial and development support services provided by his institution to help the population of remote rural areas in order that they to remain steadfast on their land. “There is a specialised institution that offers novel technical and administrative methods for farmers and industrialists without charge, with the help of Bank specialists,” he added while pointing out that assistance covers the agriculture, industrial and tourism sectors, and aims at promoting the reclamation of agriculture lands and at exporting. The value of loans, Eid noted that the value of loans that are earmarked to owners of big companies (without the need for personal guarantees), can start with USD 200 thousand, and rise to USD 400 thousand. On the other hand, small farmers could benefit from individual loans with a value reaching LBP 65 million without personal guarantees, noting that Kafalat is the loan guarantor. Such financial facilities will cover the setting up of greenhouses, various other agricultural farms, and beekeeping and poultry projects. The value of loans for fruit bearing trees projects can amount to nearly LBP 480 million, with 50% guarantee of the loan’s value for a 10 year period. (Al Mustaqbal, November 22, 2015)