The Housing Bank signed loan risk guarantee for small startups with Jordan Loan Guarantee Corp (JLGC) under which the company provides the necessary coverage to the Bank for loan risks granted by the Housing Bank and financial institutions for small startups. The agreement was signed by Ihab Saadi, General Manager of the Housing Bank and Mohammed Al Ja'fari, Director General of JLGC in the presence of representatives of the Bank's management and JLGC at the headquarters of the general management of the Housing Bank.

The signing of the agreement aimed to expand employment opportunities and contribute to advancing economic development by stimulating the banks and financial institutions to provide loans for the establishment, expansion or raising productivity of these projects; JLGC guarantees loans to these startups (officially registered in all economic sectors except for the commercial sector, which began to exercise their activity since a period of not exceeding three years), according to the provisions of this agreements and its annexes.

On this occasion, Ihab Saadi, General Manager of the Housing Bank said that the signing of the agreement was as the belief of the Bank's need to support the startups sector as one of the most vital sectors that contributes to the support of the national economy and drives development forward. Saadi expressed confidence in working with JLGC for being one of the top leading companies in loan guarantee to provide the best banking services to the Bank's customers and to reflect the interest of Bank's management to meet the aspirations and expectations of customers through better partnerships, stressing the Bank's effort to provide the best for its customers.

For his part, Mohammed Al Ja'fari, Director General of JLGC, emphasized the company's efforts to provide a variety of programs to guarantee loans for entrepreneurs of startups, pointing to the importance of the strategic partnership between the Housing Bank and JLGC, and valuing the joining of the Housing Bank to the finance guarantee for startups program because the Bank has a wide customer base in the Kingdom and a track record of financing SMEs with high added value, which supports the growth opportunities for pilot project-oriented lending. He said the program guarantees 85% of the loan granted to the startup (except for the commercial sector) with a ceiling to JOD 100,000.