Introduction

In an effort to foster business growth and expansion among Small & Medium Enterprises (SMEs) within the educational sector, the bank has initiated a program specifically designed to finance micro, small, and medium enterprises operating in the educational sector across the Kingdom. This initiative aligns with the Ministry of Education's officially recognized classification of activities.

What does the program finance?

The program is designed to finance micro, small, and medium enterprises operating in the educational sector for the following financing purposes:

Long-term financing needs related to capital expansions such as: Renovations and constructions.
Short-term financing needs related to operational expenses such as: Financing for salaries, rents, etc.

Application process

Apply directly via the various banking channels of the partner banks. Your application for financing shall be subject to consideration and credit rating by the financing partner of Small & Medium Enterprises Bank.

Who are our financing partners?

During the initial phase, the program shall finance micro, small, and medium enterprises operating in the educational sector using the business model of joint financing program through the following partner commercial banks:

Required documents:

A valid commercial register, for a minimum of one year for short-term financing and two years for long-term financing.
Social Insurance Certificate.
Nitaqat certificate, from Qiwa platform.
Enterprise size certificate, from General Authority for Small and Medium Enterprises.
National address, from "SPL" national address website.
Tax declaration form, from Zakat, Tax, and Customs Authority.
Zakat certificate, from Zakat, Tax, and Customs Authority.
A copy of the owner(s) ID.
Articles of incorporation for companies.
Decisions of partners.
Required governmental licenses.
Bank statement spanning one year.
Financial statements, if available, Saudi Business Center’s statements and internal statements.