Mahmoud, a 53-year-old married man, is a father to 8 sons and daughters between the ages of 7 and 26. He owns a fruit and vegetable store. He brings his goods from the main market at dawn to get fresh produce to sell back in his store. Now, Mahmoud has applied for this loan to take over the shop next to him and expand his store. This will allow him to increase the quantity and variety of fruits and vegetables that he has in his store and increase his revenue.
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.