SANAD Loans $10M to Jordan’s INVESTBANK to Expand Access to Housing and SME Finance
The SANAD Fund for MSME has provided a senior loan of $10 million to INVESTBANK to support the bank’s efforts in providing housing loans to low-income individuals as well as expanding its lending operations to small and medium enterprises (SMEs).
INVESTBANK is one of the leading banks in Jordan in providing pioneering financial solutions. The bank plans to expand its existing housing product offering and its SME lending portfolio by offering financing both directly by the bank as well as through its subsidiaries. The proposed investment will also complement the two loans that SANAD has provided in 2018 to two of the bank’s subsidiaries, namely Jordan Trade Facilities and Al IMDAD for Supply Chain Financing, which also aim to advance their SME lending operations.