The SANAD Fund for MSME (SANAD) has joined forces with AL IMDAD for Supply Chain Financing (Al IMDAD), a Jordanian financial institution and subsidiary of INVESTBANK, to support the development of local small and medium enterprises (SMEs). By providing AL IMDAD with a local currency loan equivalent to USD 2 million, SANAD aims to help the institution expand its services to SMEs engaged in manufacturing, import and export, and trade.
AL IMDAD is the leading company in Jordan specializing in offering a combination of inventory financing and warehouse services. Such an offer is particularly beneficial for SMEs, whose size often precludes maintaining their own storage space or having the additional collateral required to obtain financing from mainstream banks. This makes the company well suited to helping SANAD pursue its mission of fostering business development in the region through support for entrepreneurs.