Majed is a 53-year-old married man and a father for four children. After his retirement from the military, Majed opened a food market to sell the families in the neighborhood the most wanted basic food items. Now he wants to expand by adding new types of food products like spices, rice, and sugar to have variety in what he sells. For that purpose, he applied for this loan.
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.