Microloan

Microloan

Description:

This type of financing product is targeting Micro Enterprises [whose annual revenues not exceeding SAR 3 million, and the number of full-time employees does not exceed 5 ]

Loan Purpose: To fulfilling short and medium-term financing needs:
1.    Opex: General and Administrative Expenses (rent, sales expenses, transportation, salaries, and other expenses).
2.    Capex: Capital expenditures including fixed assets purchases, machinery & equipment purchases, and business expansion

3.     Raw Material and finished goods purchases.
 

Main Features
  • All sectors inclusive
  • Minimum of 6 months for Active CR
  • Financing up to 500 thousand SAR
  • Financing tenor up to 24 months
  • Financial Statements are not mandatory.
  •  Grace period up to 3 months

* Terms and conditions apply 


 

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