The Launching of 2 SME Loan Guarantee Programs with the Arab Bank

The Launching of 2 SME Loan Guarantee Programs with the Arab Bank

Through joint efforts the Jordan Loan Guarantee Corporation and the Arab Bank have launched two loan programs, the "Express Loan" and the "Business Loan" for SMEs.

These loan guarantee programs will open up new prospects for the bank's customers from the owners of small and medium-sized enterprises wishing to obtain the necessary financing to expand and revitalize their business, but don't have the necessary collaterals.

The idea behind these programs is to be able to issue the guarantees necessary for the bank to facilitate the financing for Jordanian businesses, under the terms and conditions the Bank set for the category of small and medium sized enterprises.

The two programs were launched at the main administration building of the Arab Bank in Shmeisani, by the signing of the agreement sponsored by the senior management of the Jordan Loan Guarantee Corporation represented by the Director General, Dr. Mohammed Al-Jafari , and Arab Bank representative Executive Vice President, Country Manager of Jordan and Palestine, Mrs. Kholoud Saqqaf, Dr. Jafari said that the signing of this agreement is the result of a joint effort of the company and the bank's management, and that JLGC is keen on continuing cooperation with banks and financial institutions to develop new products aimed at serving and supporting the owners of small and medium enterprises, and facilitating the funding necessary for the development of their businesses.

Mrs. Saqqaf expressed her contentment to sign this agreement, and noted that it's an important step in the development of the SME sector in the Kingdom. She added that the new programs came in line with the Royal directives to support the national economy, and a continuation of the Arab Bank's approach to meet the needs and aspirations of its clients.

Present at the signing of the agreement was Mr. Mohannad Rashdan JLGC's Assistant Director General, and Mr. Jamal Jafari Manager of the Loan Guarantee Department, and Ms. Lina Nsour Head of the Loan Guarantee Section, and from the Arab Bank, Mr. Alaa Ashi Head of the Small Business Facilities, and Mr. Raed Yamin Head of the Small Business Credit Unit, and a number of executives from the bank and the company.