The national program for self-employment “Inhad” enables youth, between ages 18-45 years old, to establish their own SMEs by providing them with technical and financial support in addition to networking them with the ecosystem. The program budget is JD100M allocated from the Central Bank of Jordan (CBJ) and is lent as concessional loans through commercial and Islamic banks. The loan amount ranges between JD5k to JD250k and is guaranteed by the Jordan Loan Guarantee Company (JLGC) up to 85%. The program has the Business Development Center (BDC), UNICEF and IRADA-MoPIC as its technical arms to train youth on entrepreneurship and conduct feasibility studies.
The program process starts with applying to “Inhad” through its website www.inhad.jo, which is an ongoing process. The application then goes through three stages of filtration; (1st) initial screening (2nd) scorecard assessment (3rd) technical interview, which takes a period of 14-20 days.
The accepted applications are transferred to JLGC for a credit check to ensure the applicant’s legitimacy to take loans, which takes a period of 7 days.