1. WHY FOCUS ON BEIRUT AREA:
The current economic situation in Lebanon being at its worst in its recent history, aggravated by the Beirut Port blast and the COVID-19 Pandemic is urging SCDN to focus primarily and for the coming 12 months, on the area within a 3 km radius from the port surroundings that has suffered the biggest damages.

2. WHO WILL ISSUE THE LOAN:
The extension of micro loans will be through BLOM Bank since SCDN as any other NGO is legally authorized to microfinance projects only if in collaboration with a bank. BLOM with its extensive microcredit experience and national coverage will thus facilitate “MFL” implementation logistics.

3. WHO CAN GET THE LOAN:
The beneficiary acceptance of the financing package will be done thru a thorough process including selection criteria and an application form to ensure continuity of the program with NO bad debts, but also not to put additional pressures and burdens on the applicant with difficult deadlines and additional debts.

4. WHAT IS THE COST OF THE LOAN
The cost of the financing package is extremely competitive at 6.5% p.a. In addition, an administration fee of US$200. Will be required to open the file of the borrower. 

5. DO I NEED TO HAVE A GUARANTEE?
To secure the continuity of the program and offer it to the biggest number of businesses, the applicant will submit names of two guarantors.

6. AM I FREE TO USE THE LOAN THE WAY I WANT:
The program will only finance projects causally related to the business. It will not address renovations, repairs or expansion of storage/showrooms. Funds given are for improving cash flows/buying equipment, additional head count, etc.…

7. IN WHAT CURRENCY THE LOAN IS GIVEN:
The financing package will be issued in “Fresh US$” and will have to be reimbursed equally in “Fresh US$.”

8. LOANS versus GRANTS
The main difference is whether you must repay them.
GRANTS are gifts that you do not have to pay back, they are a onetime benefit.
LOANS are given in exchange for repayment of the loan principal amount plus interest. Once paid back they constitute a Revolving Fund that benefits other borrowers | projects thus creating sustainability and providing Financial Security.

9. BLOM BANK CREDIBILITY | IMAGE
SCDN is the owner of MFL and is partnering with BLOM Bank as required by Lebanese Law to extend microloans to Entrepreneurs and SMEs. 
Why BLOM Bank?
 - Top 5 Lebanese Banks
- National Coverage
- Extensive micro credit experience
- Wants to support Lebanon Economic and Financial recovery.