DAMAN for SME’s seeks to provide insurance coverage for highly vulnerable borrowers of ACAD and ASALA as a form of re-financing to encourage borrowers.
Coverage will be only in the form of paying the loan outstanding balance to ACAD and ASALA on behalf of the borrower without compensating the interest or fees on loans.
The following is the general claim eligibility criteria (supporting documents must be provided to meet specific conditions for eligibility)
Borrowers who are impacted due to restrictions on trade to the local market or exports to Israel or abroad
Borrower and /or first degree relative which contribute to the family income or working in the financed project killed by Israeli army causing a direct impact on borrowers repayment capacity
Project initiated by the entrepreneur destroyed totally or partially by Israeli occupation
Entrepreneurs jailed for political reasons (6) months or more
Long term curfew (occurring after loan extension) affecting production process for period longer than (1) month or affected the sale of the product(s)
Confiscation of land related to the project