Basma, 37 years old, is a housewife caring for three boys and two girls. She has changed a room in her house into a tailoring workshop where she started her business. She bought a sewing machine, different colors of threads, and a few fabrics to start with. She tailored shirts, skirts, and traditional dresses with unique embroidery designs. Now people sometimes bring their own fabric and ask her to tailor it into a piece of clothing. Basma has applied for this loan in order to buy new raw materials to start sewing colorful summer dresses.
About National Microfinance Bank
Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size. Microfinance institutions like National Microfinance Bank offer them an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.