INHAD

This program provides concessional financing, technical support, and training in line with the Royal vision to fight unemployment amongst young people by promoting self-employment rather than employment approach and enabling them to establish development projects that provide them with an income source and provide job opportunities, and that according to the criteria and steps to join within the program to provide integrated technical and financial services.

Beneficiaries

• Those with a certificate of accession to the National Self-Employment Program (INHAD)
• Graduates of the training and employment programs of the Ministry of Labor, graduates of the National Self-Employment Program, and graduates of vocational training centers
• Existing youth-owned projects that are no more than 5 years old from the date of official registration, provided they obtain a certificate of accession to the National Self-Employment Program (INHAD)

Interest rate

(4.5%) without commission

Financing Limit

Up to (250,000) JODs.

Financing ratio

Up to (100%) of the project value.

Loan term

Repayment period up to (7) years, including grace period up to (12) months as a maximum.

Other Previlages

• No loan commission fees.
• Life Insurance for the active partner.

Guarantees

Promissory Note payable endorsed to the favor of CBJ which the loan requested represents 85% of the promissory note, in addition to any other extra guarantees from the customer in the light of assessing the client's creditworthiness.

Financing Objectives

All sectors, productive, service, and technical development activities that generate income and provide job opportunities from small and medium enterprises, and the program does not include consumer and personal loans.

Terms& Conditions:

• Minimum age is 18 years and not to exceed 45 years at the end of loan the tenor
• Provided only for Jordanian nationality customers
• Certificate of membership in the National Self-Employment Program (INHAD)
• No existing loan within INHAD Program
• Credit integrity
• The bank has the right to reject or request additional collaterals
• Loan interest will be paid from the customers income
• Loan tenor depends on the purpose of finance
• Loan accounts will be transferred to non-performing loan account when payments of the interest or principal are past due by 90 days or more

Required documents:

1.  Certificate of membership from the National Self-Employment Program (INHAD).
2. Valid national ID.
3. Company registration certificate for entities, valid profession license, practice profession license
4. Project feasibility study from Productivity Enhancement Center “IRADA” – Ministry of Planning and International cooperation.