- Advertising Agencies
- Architects

- Banks

- Car Dealers
- Car Rental
- Casinos
- Commerce
- Consulting
- Cosmetology
- Craft

- Data Processing &
Computer Systems
- Decoration &

- Editing
- Elementary Schools
- Engineering &
- Environment / Waste
Management Services
- Express Delivery

- Fashion
- Financial Services
- Food & Beverage
- Furnished Apartments

- Health / Beauty
- Higher & Vocational
- Home Appliances
- Hotels 3
- Hotels 4(A)
- Hotels 4(B)
- Hotels 5
- Hotel & Restaurant

- Industry
- Insurance
- Interior Design /
- Internet

- Jewelleries

- Lighting
- Luxury

- Media
- Music

- Office Equipment /
- Oriental Carpets
- Outside Decoration

- Printing
- Promotional Materials

- Real Estate
- Recruitment
- Restaurants

- Sanitary Wares
- Security
- Services
- Sweets

- Taxi
- Telecommunication &
Mobile Phones
- Transport
- Travel Agencies
- Technical Studies

- Watches
- Water Treatment



Back to archives Back to news
French Version

Help on the way for bombed businesses (Daily Star)

State-sponsored organization offers soft loans at low interest

Banks and industrialists rushed to rescue some of the businesses that were affected by the recent string of bomb attacks across Lebanon on Wednesday.

Kafalat, a state-sponsored organization, offered merchants and industrialists soft loans with almost zero percent interest. Khater Abu Habib, the head of Kafalat, told reporters at the headquarters of Association of Banks in Lebanon (ABL) that merchants and industrialists who lost their livelihoods following the bomb attacks are entitled to apply for these soft loans so long as their documents and papers were in order.

Kafalat was founded by the government and the Central Bank few years ago to grant soft loans to small and medium size businesses.

The Central Bank guarantees up to 75 percent of these loans while the rest is covered by commercial banks.

Abu Habib said that beneficiaries of these loans can receive up to LL300 million ($200,000) over seven-year periods, and that borrowers are exempted from paying anything in the first year.

A massive bomb on March 26 at an industrial complex in Sad al-Bouchrieh, north of Beirut, left many shops and industrial buildings in total ruin.

Another bomb in the Kaslik area caused havoc to many shops and business offices, prompting calls by trade associations to tighten security and compensate the institutions that were damaged by these attacks.

Abu Habib added that applicants can apply for these loans to buy new equipment or repair some of the damages.

On his part, the president of ABL said that commercial banks are willing to reschedule some of the loans of these customers who were affected by the bomb attacks.

He added that banks will take into consideration the delicate situation of the country, expressing confidence that the political climate will improve eventually.

The president of the Lebanese Industrialist Association, Fady Abboud, said the association would establish a special fund to raise money for Sad al-Bouchrieh, warning that industry in Lebanon has already suffered a lot from competition, high cost of production and attacks by Israeli forces a few years ago.

"A special account in three Lebanese banks will be open soon and we hope that some of the institutions will donate money to help industrialists afflicted by these attacks," Abboud said.

Metn MP Ghassan Mukhaber said he would propose a law to create a fund for those who suffered from terrorist attacks.

The industrialists will assess the cost of the attack on Sad al-Bouchrieh and file a report to the government.

Banks and economists warn that if the political bickering and bomb attacks continued in the same spate, a severe blow will be dealt to the overall economic growth of the country.

Beirut 31-03-2005
Osama Habib
The Daily Star

Business News
Business Forum
Business Opportunities
Fairs & Exhibitions
Useful Addresses
Currency Exchange Rates
Some Marks
To see in Lebanon
Media of 1stlebanon
Impact of 1stlebanon
Add your company
Press Book
Flowers delivery Lebanon
Flowers delivery Dubai
Oriental food specialty
Lebanese wine
Real estate agency Beirut
Hotel Hamra-Beirut
Car rental
Rent a car lebanon
Reservation for your travel in Lebanon
Association des français de l'étranger
-section Liban
Diamond jewelry Lebanon
Jewelry manufacturer Lebanon
Jewelry watches-Swiss made watches
Diamond Swiss watches
Modern and comtemporary jewelry
Byzantine & Phoenician jewelry
Jewelry creation
Oriental, classical and traditional decoration
Hand made furniture
Construction management Lebanon
Projects development
Shoes manufacturer and distributor Lebanon
Sole agent of Philips & Whirlpool in Lebanon
Web development
Web marketing
Printing press services
Paper products
Insurance company Lebanon
Insurance Lebanon
Rent villas France
Hotels all over Syria
Hotel management company
University Lebanon
Arab Media News