After running the numbers and locking in supply contracts to start on a solid footing, he founded ESRAR and soon had a production line up and running. Goodbye heaters, hello pipes.
By early 2018, Ishaq’s order books were full, with new customers knocking at the door. What at first seemed like great news soon cost him sleepless nights, however: To stay in business he had to increase output and expand his sales catalog. It meant setting up a second production line. In other words, taking up a loan.
I was too big for microfinance and too small for traditional banks. Thankfully, I was just right for Sanadcom’s tailored financing program.”
Ishaq Soufan, Founder, ESRAR Plastic Pipe Manufacturing Co.
Client of Sanadcom, Jordan
“We can’t help now, maybe later” became a familiar refrain at the banks he visited, and microfinance institutions weren’t interested, either. For the former, two years wasn’t enough of a track record, and for the latter, the loan amount was too large. It was March when a business acquaintance suggested Sanadcom. “It’s a financing company specialized in very small, small and medium enterprises. You’re a dynamic entrepreneur and your situation fits their profile.”