RFP 02-2024: Increased Access to and Use of Equitable Financing Options by MSEs in Jordan - Tenders Global

RFP 02-2024: Increased Access to and Use of Equitable Financing Options by MSEs in Jordan

  • Contract
  • Jordan
  • Posted 1 week ago

Expectation State


RFP 02-2024: Increased Access to and Use of Equitable Financing Options by MSEs in Jordan

Anticipated Start Date: July – August, 2024 (Start date is subject to change)

Anticipated Period of Performance: Five months from the date of award and contract signature

Award Type: Deliverable Based Contract

Budget Ceiling: 40,000 USD, any proposal above this ceiling will be automatically disqualified

Reporting to: Expectation State Project Manager

Location: Amman – Jordan

1. Purpose Statement

Expectation State (ES), the Implementing Partner for the USAID Informal Livelihood Advancement Activity (Iqlaa) led by Mercy Corps, seeks to engage with one consulting firm for enhancing Micro and Small Enterprises (MSEs) access to and utilization of equitable financing options that meet their needs. The ultimate objective of the assignment is to increase MSEs growth and long-term viability, as described in this RFP.

ES is a purpose driven development consultancy that brings a different approach to private sector growth in emerging states. ES’s mission is to build more inclusive economies, states, communities and ecosystems to meet the expectations of society, delivering across a range of sectors, including inclusive economic growth, access to finance, trade, investment, migration, climate, evaluation and digital technology. ES works with Governments, investors, donors, intermediaries, family offices, startups, multinationals and communities in their focus countries. Incorporated in the United Kingdom, Tunisia and Jordan and with a presence in Ghana, Kenya, Zambia and Zimbabwe, ES is an employee-owned business, sharing both the responsibility for and benefits of growth across the team.

2. Program Background

The USAID Informal Livelihoods Advancement Activity (Iqlaa) is a five-year USAID-funded program that started in 2022 and aims to support Jordan’s HBBs and MSEs to grow, transform, and become resilient to future shocks. Iqlaa’s approach explores new ways of doing business and improving access to finance, markets, and services. The program focuses on four sectors: agriculture, hospitality and tourism, manufacturing, and services, with a special focus on technology development and implementation. Iqlaa infuses a gender, youth, and social inclusion lens throughout all interventions.

Through research and adaptive collaborative learning, Iqlaa will identify opportunities, incentives, and market constraints that facilitate or restrict formalization and growth. Based on the findings, Iqlaa will implement best practices in enterprise strengthening, inclusive job creation, and financial sector development within a market systems development (MSD) framework. Iqlaa will also leverage innovative behavioral change methodologies to facilitate long-term, sustainable changes in the MSEs ecosystem in Jordan.

To achieve its objectives, Iqlaa through its implementing partners and market sector actors, will offer bundled support in forms of technical assistance and grants such as:

  • Conditional Grants: Iqlaa will extend grants to market actors for formalization, start-up funding, business growth, innovation and scale, and technology integration. Grant schemes will be updated annually.
  • Increased business linkages and access to markets for MSEs through aggregators and lead firms.
  • Supporting MSEs through incubators and accelerators.
  • E-Commerce support to build e-commerce knowledge and skills and establish online stores.
  • Business mentorship for MSEs through Mercy Corps’ MicroMentor.
  • Business and financial management capacity building programs and software adoption services.
  • Legal and formalization advisory services.
  • Support for MSEs owned by people living with disabilities for better access to markets.
  • Enhancing Public-Private Dialogue around priority issues faced by MSEs.

Anticipated Results

  • Reach out to 11,000 MSEs in Jordan with Iqlaa’s services and support during the program period.
  • Provide formalization support to growth-oriented informal businesses.
  • Create employment opportunities through Iqlaa’s interventions.
  • Increase sales and revenues for MSEs through access to markets and business opportunities.
  • Create business linkages for MSEs with broader value chains and larger businesses.
  • Provide MSEs with financial management services/ products and access-to-finance.
  • Unlock the potential of the female labor force in Jordan through gender-sensitive activities, while reinforcing other USAID investments to ensure holistic support.
  • Identify and test technology-enabled and digital solutions to tackle youth employment.
  • Create employment opportunities for women, youth, and persons living with disabilities.

Expectation State is leading the access to finance component under Iqlaa’s program. The component focuses on addressing the challenges faced by MSEs in accessing financial services and introducing innovative financing solutions to bridge the financing gap. ES is committed to creating sustainable change and promoting a responsive, inclusive financial ecosystem.

3. Objectives of the Assignment

The main objective of this assignment is to increase MSEs’ access to and use of equitable financing options, thereby supporting their growth and sustainability. This will be achieved by identifying MSEs, HBBs and/or startups in priority sectors, creating a database of available financing options, improving MSEs’ pitching techniques, and facilitating connections with a diverse range of access to finance mechanisms.

4. Required Tasks

This assignment aims to enhance the capabilities of Jordanian MSEs, HBBs and entrepreneurs by building their capacity to develop fundable pitch materials, improving their pitching and presentation skills. These resources are designed to significantly boost their potential and strategically position them to secure essential financing. Additionally, the assignment seeks to bridge the gap between these enterprises and the financial resources they need for growth.

This will be achieved by implementing the following tasks and activities:

1. Beneficiaries Database Development and Shortlisting:

Objective: Build a database of at least 40 high potential MSEs, HBBs, and Startups. t.


  • MSEs, HBBs and Startups Database Development:

    • Collaborate with ES to identify a database of high-potential MSEs, HBBs, and Startups from:
      • A list of MSEs, HBBs and Startups provided by ES which is accumulated from ES internal database, Iqlaa database and implementing partners referrals.
      • Consulting firm (offerors) previous experience with potential MSEs, HBBs ad Startups.
      • Engaging with key stakeholders including local business networks, incubators, accelerators, and industry events to source leads effectively.
  • Criteria Development:
    • Collaborate with ES to establish clear and measurable criteria for identifying high-potential MSEs, HBBs, and Startups to filter 40 MSEs and/or HBBs from the database developed.
    • Ensure criteria encompasses aspects such as market potential, scalability, innovation, financial health, and impact measurement with a special focus on women, youth, and people living with disabilities (PLWDs).
    • The shortlisted companies shall confirm their commitment before enrolling them in further activities.
    • All shortlisted candidates must be registered on Iqlaa database by Consulting Firm.

2. Business & Financing needs assessment

Objective: A structured assessment of beneficiaries’ current business and financial position, future plans and potential risks to make informed decisions and achieve financial stability and growth.


  • Develop a structured questionnaire that covers various aspects of MSE financing and shall be approved by ES prior to one to one interviews.
  • Conduct one-on-one interviews with the 40 filtered MSEs to understand their current business and financial position, working capital requirements, investment plans, growth aspirations, and existing financial challenges. The objective is to:
    • Understand their cash flow cycles and short-term liquidity requirements.
    • Explore how they manage seasonal fluctuations, if any.
    • Discuss their business plans, growth & expansion plans, technology adoption, and capacity enhancement.
    • Identify financing needs and potential sources of funding.
  • Prepare a business and financing needs assessment and action plan for each beneficiary.
  • Shortlist 20 MSEs, HBBs and/or Startups for investment pitches co-development.

3. Financial Instruments Pipeline Development

Objective: Develop an updated pipeline of different financing options/instruments relevant to the targeted beneficiaries.


  • Financial Instruments / Investor Database Profiling:

    • Develop a template for the database that serves as the base for financing and or investment facilitation support. This template to be approved by ES.
    • Build on ES existing database, previous work conducted by other stakeholders and existing platforms/databases (i.e. JEDCO SME Hub, StartupsJo. Portal) to develop an updated pipeline of financial options/ instruments relevant to the target beneficiaries.

4. Financing and/or Investment Facilitation Support

Objective: Enhance investment opportunities for the shortlisted MSEs, HBBs, and Startups through the development of investment pitches and facilitation of investor and/or access to finance linkages.


  • Investment Pitch Development:

    • Conduct workshops to train MSEs, HBBs, and Startups on creating effective investment pitches and/or financing.
    • Provide templates and guidelines for developing clear and compelling pitch documents.
    • Presentation skills training to help MSEs, HBBs and Startups entrepreneurs effectively communicate their business vision and value proposition during investor and / or financing meetings.
  • Impact Dimensions

    • Support MSEs, HBBs, and Startups to outline their impact potential and attract future impact-driven capital.
    • Support MSEs, HBBs, and Startups to define, describe, and measure impact adopted by the Global Impact Investing Network (GIIN).
    • Add these to the Investment Pitch being Developed for each MSE, HBB and Startups.
  • Pitch Review and Refinement:
  • Conduct mock presentations to prepare HBBs, MSEs and startups for real investor and / or financing interactions.
  • Offer personalized feedback sessions to review and refine each entity’s investment and / or financing pitch.
  • Investor Matchmaking:

    • Identify and match MSEs, HBBs, and Startups with potential investors and/or financing options based on financing and/or investment criteria and business compatibility.
  • Ensure that pitches are tailored to the interests and mandates of potential investors and / or financing options.
  • Assist and provide general guidance in the preparation of necessary documentation for investment and / or financing discussions.
  • Ensure that all documentation meets professional standards and investor and / or financing expectations.
  • Develop a matchmaking strategy including facilitating matchmaking between MSEs, HBBs and/or Startups with potential investors and/or financing instruments/institutions.

5. Feedback Collection and Analysis:

Objective: systematically gather and examine feedback from stakeholders involved to make informed improvements and ensure the success of a project or initiative.


  • Collect feedback from both MSEs, Startups and HBBs and investors and / or financing institutions to understand the effectiveness of the pitch development process.
  • Analyze feedback to continuously improve the support provided to the shortlisted entities.
  • Identify opportunities for bridging the MSEs financing gap.

6. Success Story Documentation:

Objective: to capture and share achievements to be used as an effective tool for communication, learning, and advocacy, showcasing the value and effectiveness of this assignment.


  • Document successful investment matches and case studies to showcase the impact of the initiative.
  • Highlight how these success stories can be used to encourage further investment in the ecosystem.
  • Document the processes and strategies implemented as part of this assignment that led to the outcomes. This could be used as a learning tool for future program designs to contribute to a more informed and resilient entrepreneurial ecosystem.

This assignment is not just about facilitating immediate financial connections, it is about equipping Jordanian HBBs, MSEs and startups with the enduring skills and tools they need to thrive in a competitive economic environment.

5. Deliverables & Expected Duration

The selected firm is responsible for the preparation and submission of the following illustrative deliverables, with each item being completed in accordance to the proposed duration, as detailed below.

  1. Inception Phase: 1 week from Kick-off and contract award
  2. MSEs, HBBs and Startups Database: 2 weeks from kick-off
  3. Financing and Business Needs Assessment for the filtered 40 MSEs, HBBs and/or Startups: 7 weeks from kick-off
  4. Financial Instruments Pipeline/Database: 8 weeks from kick-off
  5. Investment Pitch Templates and Material for the (Presentation Skills, Pitch Development) Trainings: 12 weeks from kick-off
  6. Investment Facilitation Support including the development of 20 investment pitches: 18 weeks from kick-off
  7. Final Report: 20 weeks from kick-off

6. Minimum Qualifications

The following profile describes the skills and experience required for the successful offeror to be considered during proposal drafting and personnel allocation. The offeror should be a firm or a group of consulting firms with previous knowledge and experience including:

  • Financial Analysis Expertise:

    • Strong background in financial analysis, including financial matchmaking and assessment.
    • Ability to analyze complex financial data and derive actionable insights.
    • A proven track record of successful fundraising projects related to MSMEs, preferably well demonstration of impact on financial sustainability and growth for MSMEs.
  • Understanding of MSEs:

    • Deep understanding of the unique challenges faced by MSMEs. This includes their financial constraints, limited resources, and specific needs.
    • Knowledge of various fundraising strategies suitable for MSMEs and different available financing options, such as Micro funding, crowdfunding, corporate and institutional investing, impact investing, among others.
  • Market Research Skills:

    • Proficiency in conducting market research, financing mechanisms mapping, market trends, and customer segmentation.
    • Experience in evaluating financing mechanisms and their offerings.
  • Tailored support Coaching and Mentorship:

    • Experience in organizing and implementing coaching and mentorship sessions with MSEs and entrepreneurs
    • Ability to develop a customized fundraising plan and pitching deck for each MSME. This involves assessing their current situation, identifying funding gaps, and creating a tailored plan.
  • Networking and Relationship Building:

    • Solid connections and network with investors and financing institutions, locally, regionally and internationally.
  • Project Management Abilities:

    • Demonstrated experience in managing donor-funded projects, with experience in result framework and reporting is an asset.
    • Demonstrated ability to manage complex projects, including developing work plans, coordinating with multiple stakeholders, and meeting deadlines.
    • Strong organizational skills and attention to detail.
  • Ethical Standards:

    • Adherence to high ethical standards, including confidentiality, integrity, and respect for diversity.
    • Commitment to promoting financial inclusion and sustainable development goals.
  • Language Skills:

    • Proficiency in English and Arabic.

7. Eligibility Requirements of Applicants

Applicants must have the capacity to implement proposed activities, achieve related results with proper business ethics. ES requires that all applicants must be/submit:

  1. Be legally registered and able to provide proof of registration in Jordan.
  2. A technical proposal as per the instructions and sections in point No.8.
  3. A financial proposal as per the instructions and template in point No. 9.

8. Instructions for the Preparation of the Technical Proposal (40% Value)

The technical proposal should include the sections with the required details and content as listed in the table below. The sections will be evaluated according to the corresponding evaluation weight and page limitation. Offerors should consider the minimum qualifications (above) when drafting their proposals.

Technical Proposal Required Sections (pdf format)

Section1: Cover Page
Evaluation Points: 0
Number of pages: 1

  • Include names of the organization(s) involved in the proposal
  • contact information for the main point of contact, including the individual’s name, title or position.
  • organization address, e-mail address, and telephone.

Section 2: Technical Approach
Evaluation Points: 35
Number of pages: A max of 5 pages

  • Extent to which the Offeror demonstrates a clear and detailed understanding of the context of the objectives and required tasks of this assignment.
  • Clarity and appropriateness of the proposed approach and methodology in relation to the design and implementation of the required tasks.
  • Implementation plan and proposed timeline are realistic and include all proposed elements of assignment.
  • Anticipated outcomes.
  • Risk analysis and mitigation strategy.

Section 3: Capability Statement & Past Performance/References
Evaluation Points: 30
Number of pages: A max of 5 pages

The extent to which the Offeror demonstrates its institutional capability to effectively and successfully achieve the objectives and implement its proposed technical approach.

  • Organizational competence relative to the tasks and deliverables.
  • Capabilities mobilising experts and teams.
  • Attention to requirements listed in the “Minimum qualifications required” section.

Overall, previous successful experience implementing similar activities, looking at:

  • 1-3 similar examples of required scope
  • Customer satisfaction with performance;
  • Prior experience working in investment and/or financing facilitation and matchmaking with MSMEs, HBBS and/or Startups.

Section 4: Personnel
Evaluation Points: 35
Number of pages: A max of 2 pages

  • Quality and appropriateness of the proposed personnel, including the extent to which they meet qualification requirements and convincingly demonstrate the Offeror’s ability to effectively and successfully achieve the contract’s objectives.

Section 5: CVs of proposed personnel
A max of 2 page / each CV

Total Points: 100

Total number of pages: 13

Noting that:

  1. Technical proposals will be evaluated and scored by a technical evaluation committee as per the above table.
  2. Financial proposals will only be evaluated whose technical proposal is deemed technically acceptable with a minimum score of 70.
  3. Offerors are allowed to submit one proposal only. If an Offeror participates in more than one proposal, all proposals involving the Offeror will be rejected.
  4. If the Offeror includes a group of firms and/or subcontractors, one lead organization or firm must be clearly identified and is responsible for handling all reporting and coordination with Expectation State.

9. Instructions for Preparation of the Financial Proposal (30% Value)

The Offeror shall provide a complete detailed budget using the below Budget Template in pdf format. Costs must be realistic, reasonable and must be valid for 90 days from the date the financial proposal is submitted. ES will review and determine whether the estimated proposed costs elements are realistic and in accordance with the technical proposal. Please refer to the ToRs in the link below.


  • Deliverable 1: Inception Phase (updated workplan, templates, and prioritisation criteria)
  • Deliverable 2: MSEs, HBBs and/or Startups Database
  • Deliverable 3: Financing & Business Needs Assessment for 40 MSEs, HBBs and/or Startups
  • Deliverable 4: Financial Instruments Pipeline/Database
  • Deliverable 5: Investment Pitch Templates and Material for the (Presentation Skills, Pitch Development) Trainings
  • Deliverable 6: Investment Facilitation Report including the development of 20 investment pitches for the shortlisted 20 MSEs, HBBs and/or Startups
  • Deliverable 7: Final Report
  • Total

10. Interviews (30% Value)

As part of the evaluation, the technical evaluation committee will interview the top three offerors (based on technical and financial evaluation).

Link to the RFP – Terms and References

How to apply

Due date for questions: June 30, 2024

  • Submission of questions or requests for clarification will only be accepted in writing via email to [email protected] by 03:00 P.M. Hours local time in Jordan.
  • No telephone inquiries will be answered.
  • Answers to be shared via email and uploaded to Expectation State Linkedin page on July 2, 2024

Deadline: July 7, 2024

  • Proposal submission (including technical and financial proposal, supporting documents) due by 04:00 P.M. Hours (Amman, Jordan time) via electronic submission only [email protected],
  • Proposals shall be in English language and pdf format.
  • Insert the following in the email subject line: “RFP 02-2024 Increased access to and use of equitable financing options by MSEs in Jordan”.
  • Incomplete proposals and/or proposals received after the deadline will not be considered.

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