AMMAN (JT) - As microlenders exchanged successful strategies, some exemplary loan recipients were invited to tell their stories.
Mohammad Badaineh, an agriculture engineer, shared his achievements with The Jordan Times.
Badaineh, who received a one-time JD3,000 loan eight years ago, now employs 12 workers in his printing business after he decided he would not wait for a government job which "sometimes has waiting periods of 2-3 years".
The company's worth is estimated at JD100,000 now.
"Most people in Tafileh will wait for an opportunity with the government; they do not think outside the box and explore opportunities different from their studies," he said.
The entrepreneur explained that he opened an advertising office in his area with one employee, which generated around JD400 per month after expenses.
Later, he discovered that there were more opportunities in Aqaba and moved his family there and started buying advanced equipment necessary to expand his company's operation.
"Now I provide service for the entire south of Jordan and my clients are loyal," he said.
The 31-year-old, who received King Abdullah Award for Excellence for his success in August, explained that the difference between most microfinance programmes and banks is that microlenders do not give money and leave. "They stayed with me, helped me through business problems and visited often."
He recalled that when he first received the loan, "I was a fresh graduate in debt and thought it was a huge amount of money. Now some of my employees earn JD1,000 a month."
© Jordan Times 2007
