Grants Or Loans For New Ventures / Business Incubators ( Stopped for Now )

Responsible Directorate

New Ventures Directorate - Businesses Incubators Section

Target segments

• Entrepreneurs and start-up businesses with innovative project ideas
• New ventures (less than 2 years old)

Place of Provision of Service

Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) / JEDCO centres in the governorates of Irbid, Ajloun, Madaba, Karak, Al-Mafraq and Ma'an

Eligibility requirements

The service is open to;

1. Jordanian nationals of 18 years of age or over with scientific and/or technical qualifications related to the project
2. Entrepreneurs with commercially feasible production or service-oriented achievable project ideas (Trade, IT and Agricultural projects are not eligible)
3. Entrepreneurs who undertake the ‘Establish Your Own Business’ training course
4. Projects in all Governorates of Jordan

Required Documents

When applying for a grant or a loan:

• Completed Application Form
• Current Business Plan
• Income/ Expenditure schedule
• Applicant's resume

After obtaining a grant or loan:

• The project has to be registered at both the Ministry of Industry, Trade and Supplies, and the relevant chamber under the beneficiary's name
• A dedicated bank account with a chequebook for the grant / loan has to be opened
• A public guarantee or promissory note has to be notarised
• If equipment is purchased, suitable insurance policy has to be arranged

Application Deadline

End of April, August and October each year

Application Process

1. Completed application forms should be submitted by the project owner personally at one of the centers of the Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) in the governorates of Irbid, Ajloun, Madaba, Karak, Al-Mafraq and Ma'an, or at JEDCO. The application should be accompanied by a business plan and a requested financial disbursements schedule. Application Forms are available at the Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) and JEDCO offices
2. The Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) or the JEDCO office representative will forward completed applications triannually to JEDCO normally at the end of April, August, and October, of each year
3. JEDCO will convene a committee comprised of the Business Incubator section and the Industry / Services Support Directorate staff to evaluate the projects, according to technical criteria set by JEDCO
4. JEDCO will announce the evaluation results and forward official correspondence to the Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) to inform them of projects approved and declined, explaining fully the reasons behind each decision
5. The Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) or JEDCO offices will arrange with successful applicants to sign grants or loan contracts
6. A briefing event will held to brief successful applicants on the procedures to draw down finance.
7. The Jordan Entrepreneurial Company (Al-Urdunia Lel Ebda) or JEDCO offices will prepare forms for disbursement requests, together with invoices and all required documents
8. JEDCO disbursement vouchers will be prepared after the verification by the incubator officer that all documents are complete
9. The financial file will be sent to the financial accountant to prepare cheques
10. The file will be sent to the Internal Audit Directorate for endorsement
11. Cheques are issued
12. The beneficiary and/or the JEDCO office will be informed by email that cheques are ready for collection
13. Monthly monitoring of project procedures and financial requests undertaken

Partner Organizations

None

Service Fee

None

Service duration

• The evaluation process will normally be completed within two months from the final date of receipt of applications
• During the implementation period, disbursement requests submitted at the beginning of every month will normally be processed within 14 working days