Raed is a 31-year-old single guy living in a family of eight members. Four months ago, Raed opened a mini-market that will help in supporting the family and build for his future. So far the business is doing well, but Raed wants to expand it more in a way that would ensure that the customer would find most, if not all, of what he needs in the store. For that, Raed has applied for this loan to bring in the products that are missing in the store.
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.