JLGC offers JD257m in loan guarantees for SMEs during 2024

AMMAN — The Jordan Loan Guarantee Corporation (JLGC) secured guarantees to about 1,855 small and medium-sized enterprises (SMEs) in 2024, under various loan guarantee programmes, with a total value of about JD257 million, including 231 startups, worth JD22.7 million.

A total of 534 projects received guarantees within the Micro-Enterprise Support Programme, with a value of some JD4.7 million, according to the JLGC's data.

JLGC granted guarantees to 4,829 export shipments and local sales with a total value of about JD187 million during 2024, distributed across several sectors, mainly food and chemicals, the Jordan News Agency, Petra, reported.

The corporation's figures indicated that sales of Jordanian companies participating in the programme were directed to over 372 buyers in 40 countries, mainly Saudi Arabia, Switzerland, Kuwait and Malaysia.

During 2024, the corporation "successfully" signed 47 new policies with industrial companies within the previous programme.

The JLGC also renewed support for 42 Jordanian industrial exporting companies to benefit from Support for Industry Development Fund, with an annual ceiling of up to JD35,000 for each company, used to cover insurance costs in guarantee fees and inquiries about external buyers.

During the same year, the corporation achieved growth in its total revenues to reach JD49.1 million, increasing by 6 per cent, compared with JD46.4 million in 2023.

The corporation achieved growth in profits in 2024, reaching pre-tax JD2.3 million, compared with JD2.2 million in 2023.