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Tuesday 7 April 2020

Housing Bank Supports SMEs during Coronavirus Crisis with 2% Interest Financing Program


Housing Bank, the largest and most widespread bank in Jordan, has launched a financing program to help small and medium-sized enterprises (SMEs) face the repercussions of the coronavirus crisis, with an interest rate of 2%, as part of its participation in the National Loan Guarantee Program, which was launched by the Central Bank of Jordan, in cooperation with the Jordan Loan Guarantee Corporation.

 The low-interest, simplified financing program by Housing Bank aims to facilitate financing for small and medium-sized companies by covering their financing needs for operating and working capital expenses, and enabling them to continue their activities and pay the salaries of their employees, as well as ensure business continuity and cover their various operating expenses.

The program targets individual companies and small and medium-sized enterprises (SMEs) that meet the definition of the Central Bank of Jordan for small and medium-sized companies, and within the program, conditions agreed with the Jordan Loan Guarantee Corporation, for various sectors, including professionals and craftspeople, retail and wholesale trade, tourism and hotel services, information technology, and manufacturing industries, including agriculture, transportation, and health facilities, services and hospitals, in addition to the education sector, and others.

Housing Bank's financing program for small and medium-sized enterprises (SMEs), including professionals and craftspeople, is in line with its national role and desire to support these vital economic sectors and enable them to face the negative repercussions of the coronavirus crisis, and its belief that helping finance these sectors, which are the most affected by the crisis, with low interests and simple conditions will help enable companies to resume their activities and expand their businesses during the coming stages, in a way that ensures the continuity of the economic and production activity, thus alleviating repercussions on the national economy.

Housing Bank will receive financing requests electronically through its website.

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