MANAMA: Ebdaa Bank for Microfinance announced its “School Loan” initiative to coincide with the back to school season.

It aims to give entrepreneur customers greater financial resources and provide incentives for those wishing to set up shops with stationery and school supplies.

The loan is tailor-made to meet the requirements of customers, which features loans from BD200 and BD1,000. Payments in monthly installments can be settled before 13 months, and the bank will ensure easy documentation and quick processing, as part of its role in supporting low-income and micro-enterprises in Bahrain.

Ebdaa Bank chief executive Dr Khaled Al Ghazzawi said the loan was designed to meet the needs of entrepreneurs and stationery store owners with the provision of concessional settlement period.

“Every year, more students are enrolled in school, and their requirements are increasing. So it is our responsibility to provide the necessary affordable liquidity to boost the seasonal market that is active during the back to school season.”

“The school loan also aims to support entrepreneurs, home businesses, housewives and other Bahrainis wishing to take advantage of the season to set up temporary projects to sell clothes, bags or school items,” said Dr Al Ghazzawi.

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