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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