Financing unemployed youth
15 working days if all documents and feasibility study are available.
Public service desk and branches of the Fund in all Governorates.
Branches of the Fund in Jeeza(Central Area),
the northern Badia in Mafraq
and the Husseiniya area in Ma'an Governorate.
Po Box (922708) Amman (11192) Jordan- Tel. 4618851 Fax 4618845.
You can contact the Public Service on (4618458)
The north branch (027102065)- The south branch (032341069).
5 JDs in fees; paid prior to signing the agreement.
- Required Documents
- Persons benefiting from the service
- Related Services
Conditions for obtaining service
First: General conditions and criteria related to the borrower:
- The applicant must be Jordanian.
- To be unemployed and owns no enterprises.
- Has appropriate academic and practical qualification (one of the degrees mentioned above)
- The borrower shall not be less than (18) years of age and not more than (40) years.
- Financing ceiling (15000) thousand JDs; according to economic feasibility study.
- Islamic Murabaha rate of (3%), a grace period of (12) months from the date of signing the agreement, and repayment tenure of (8) years.
Second: General conditions and criteria related to the project to be financed:
- The project should be productive and economically feasible in the following fields: (industry, crafts, services, commercial, and tourism).
- The project should be income-generating and labor-intensive for Jordanians.
- The project’s feasibility study should be prepared by any of “ERADAH” centers.
Funding purpose: Providing the necessary funding to improve the income level of unemployed youth (university degree holders, community college diploma holders and professional certificate holders) in all areas of Badia, Tafileh, Mafraq, Ajloun, Karak, Balqa, Madaba, Jerash and Jordan valley regions; with a ceiling of 15,000 JDs. A 30% rebate of the financing value shall be returned to the borrower if the project is sustained for at least 3 years as an incentive.
Providing the necessary funding to improve the income level of unemployed youth (university degree holders, community college diploma holders and professional certificate holders) in all areas of Badia, Tafileh, Mafraq, Ajloun, Karak, Balqa, Madaba, Jerash and Jordan valley regions; with a ceiling of 15,000 JDs. A 30% rebate of the financing value shall be returned to the borrower if the project is sustained for at least 3 years as an incentive.
• Departments and institutions where the sponsor / sponsors work.
• Productivity Enhancement Centers (IRADA) if the amount of funding exceeds JD 7,000.
• The Department of Land and Survey in case of mortgaging the property as collateral.
• Social Security Corporation.
• Ministry of Industry, Trade and Supply or its directorates in the governorates.
• Greater Amman Municipality, other municipalities.
• Commercial banks.
- Visit a branch of the Fund and meet with a credit officer.
- The credit officer shall provide all information on the terms and mechanism of lending and guarantees required, as well as the nature of projects financed by the Fund.
- After agreement on the type of project and the nature of the guarantees, the applicant will be provided with a list of requirements and a letter addressed to the Productivity Enhancement Center (ERADA) according to the project location in case the required funding exceed JD 7,000. The applicant shall also be given the inquiry form to sign by (Social Security Corporation, Ministry of Trade, Industry & supply or its directorates in the various governorates, Greater Amman Municipality, other Municipalities) according to the location of the project.
- After completing all the documents, the applicant will visit the branch and submit the documents and forms to the credit officer.
- The credit officer will check all the documents and if completed, the loan application form will be filled out, signed and entered into the electronic lending system.
- A visit to the project site is scheduled to indicate its readiness.
- The credit officer shall carry out the visit and prepare an evaluation study for the project.
- The file is then sent to the Central Loan Committee.
- The application is presented to the Loan Committee.
- In case of approval by the Committee, the file shall be transferred to the relevant branch for the signing of the agreement by the borrower and the sponsor.
- The applicant is then given a card to pay service fees at partner banks in all branches.
- The applicant shall deliver the deposit slip or the receipt voucher to the lending officer.
- Signing the agreement and its annexes by the Borrower and the sponsors.
- The Borrower shall be delivered a copy of the purchase commitment letters in the case of Murabaha financing for the purchase order.
- The Borrower shall receive the materials contained in the quotations by the supplier / suppliers and inform the Fund on the receipt of the materials.
- Executing a check disbursement visit to inspect the materials at the borrower's project site.
- The disbursement officer shall prepare the visit report on the project for the purpose of disbursement to:
- The supplier in cases of Murabaha financing of the purchase order
- The sponsor of the family in the case of financing through power of attorney after bringing invoices in the amount of the disbursement.
First: Documents required at the application stage:
- Certified copies of the ID cards of the borrower and sponsor (s).
- Certificate of experience attested by the Labor Office or academic certificate for projects that require it.
- Profession practicing license issued by the vocational training corporation for professions that require a license; such as (carpenter, blacksmith, barber, etc.).
- Initial lease of the project’s site.
- Title deed in the case of mortgaging the property and a price appraisal letter from the Land and Survey Department or a licensed surveyor
- The last electricity bill of the borrower’s housing.
- Preliminary approvals for projects that require so by the competent authorities (beauty parlors, internet cafes, nurseries, etc.).
- Price quotes for the materials to be financed. Price quotations shall be addressed to the Fund in the case of Murabaha financing of the purchase order from a competent supplier.
- Copy of the supplier's license and commercial registry in the case of Murabaha financing of the purchase order.
- The salary slip of the sponsor / sponsors and the deduction letter addressed to the sponsor’s employer.
Second: Required documents after the approval of the Loan Committee to sign the agreement:
- A certified lease contract from Greater Amman Municipality or other municipality according to the project location.
- A certified copy of the Commercial Registry.
- A certified copy of the vocational license.
- Mortgage letter / to ensure real estate property.
- Any additional terms required by the Loan Committee.
Persons benefiting from the service
Borrowers and sponsors.
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