At Jammal Trust Bank, anyone who needs to finance a productive idea is considered a potential SME
July 18, 2014: SMEs are a fundamental part of the economic fabric in Lebanon. They play a crucial role in furthering growth, innovation and prosperity. Unfortunately, they are strongly restricted in accessing the funds that they require to grow and expand.
Jammal Trust Bank (JTB) has been very serious and committed to serving the SME community despite the unfavorable lending conditions, even more so following the recent financial crisis. Moreover, JTB’s efforts have often been challenged by the lack of information and by shy regulatory support to engage in SME lending.
The term ‘SME’ encompasses a broad spectrum of definitions. Different organisations and countries set their own guidelines for defining SMEs, often based on headcount, sales or assets.
At JTB, anyone who needs to finance a productive idea is considered a potential SME. This gives us an edge over the competition in this market.
We are not in the business of financing the poor and underprivileged; we’re in the business of turning ideas into business opportunities to fuel economic growth.
The founder of JTB operated on the philosophy that every large company started small, and there is no harm in being with our clients when their ideas are still in the embryonic phase.
JTB branched out in geography that is seldom noted on the local banking map and provides funding for projects and little neighbourhood shops that do not count for more than a ‘margin of error’ in the lending practices of some banks. This is what we call as ‘Reach Out’ with respect to micro and SME lending.
In theory and in practice, a crucial element in the development of the SME sector is access to finance, particularly to bank financing. It is, therefore, a strategic policy priority for JTB’s Board of Directors to be ‘The Conduit’ for the development of the SME community in Lebanon.
JTB considers the SME segment strategically important because it plays an instrumental, but often under-recognised role in private sector growth, and the market is far from being saturated. JTB has been successfully serving the SME market since its inception. JTB succeeded because it speaks ‘their’ language.
JTB shall continue to strive in the SME market because it understands ‘their’ needs. JTB shall remain a leader in the SME community because it treats its SME clients as its partners, which is a win-win relationship.
Source: Jammal Trust Bank