In furtherance of an initiative to support startups launched by the Central Bank of Jordan early this year, Jordan Commercial Bank and Jordan Loan Guarantee Corporation (JLGC) have signed a startup cooperation agreement to support and encourage startups, thus contributing to the creation of jobs and livelihood opportunities. 

Jordan Commercial Bank General Manager Caesar Qulajen and JLGC General Manager Dr. Mohammad Al-Jaafari signed the agreement at the Bank’s headquarters in the presence of managers and employees from both sides.

For his part, Mr. Qulajen stated: “Jordan Commercial Bank is committed to supporting SMEs and entrepreneurs by providing them with comprehensive financing solutions and offering them the opportunity to thrive and contribute to social and economic development.”

JLGC General Manager Dr. Mohammad Al-Jaafari expressed his appreciation of Jordan Commercial Bank’s efforts to promote financing        for high value-added SMEs. JLGC now has the opportunity to cooperate with all banks to in order to provide small borrowers with access to sources of finance as this would enhance entrepreneurs’ confidence and encourage them to develop their ideas.

This is the eighth agreement to be signed by JLGC as part of the Startups Guarantee Program. Under this agreement, the Bank will provide loans to finance working capital or capital to start a business up to JD 100,000. The loans will be backed by an 85% guarantee from JLGC.