Apply for a self-employment cash loan

A financing product aimed at citizens who are able to work and wish to increase their monthly income, as this product allows them to benefit from easy financing that enables them to practice self-employment for their own account.

Financing advantages:

• Financing ceiling for a single payment of up to 80,000 riyals with a financing period of up to 40 months.
• Financing ceiling in two installments up to 200,000 riyals with a financing period of up to 60 months.

• The maximum financing amount is 32,000 riyals for those aged 20 years and under.

• Administrative fees of up to 13,000 riyals will be deducted from the financing before the deposit.

• Payment method: monthly installments.

Application requirements:

• The applicant for funding must be a Saudi national.

• The applicant for financing must not have an existing/defaulting loan with the Social Development Bank.

• The age must not be less than 18 Hijri years and not more than 65 Hijri years, whether borrower or guarantor.

• The monthly income of the loan applicant must not exceed 20,000 riyals.

• The applicant for financing must provide collateral for the financing. (If you are not a government employee or government retiree, a guarantor who is a current government employee is required).

• Passing the credit check.

• Not being a voluntary subscriber to social security

• If you are an employee of Aramco or SABIC, you need a sponsor.

• You must have a freelance work document in one of the tracks shown below, and the document must have been issued at least one year ago .

• You must have a business bank account linked to your freelance work document.

Application requirements:

• Active account on National Access

• Your mobile number is in your name or in the name of a first-degree relative.

• A document for freelance work on one of the paths outlined below.

• National address, you can request the service from here.

• A business bank account linked to the freelance work document. You can request the service from here.

Target audience:

• Government, semi-government and private sector employees with a salary of 20,000 or less.

• The unemployed.

• Those not served through traditional financing channels.

Funding pathways for freelance work:

• For specialized service professions, you can request their issuance from here.

• Order delivery; you can request its issuance from here.

• Financing accounting professions

• Rural development professions

• Real estate professions

• Handicraft professions

Guarantee conditions:

• To be a government employee or a government-owned company in which the state holds more than 50% of the capital
• His salary should not be less than 8000 riyals.
• His financial obligations should not be high, according to the Development Bank's policy.
• The person must not be a guarantor for two other loans without having borrowed themselves, or a guarantor for a loan and a beneficiary of a Development Bank loan.
• The guarantor must not have any outstanding payments.
• His age must not exceed 55 years.
• We do not accept sponsorship from Aramco or SABIC employees.

comments :

• The service includes submitting the financing application only, and does not include issuing the document or opening a bank account.
• You can request the issuance of a freelance work document in the specialized services track from here.
• You can request the issuance of a freelance work document in the order delivery track from here.
• You can request to open a business bank account linked to the document from here.
• The terms were taken from their source, and the terms may be updated by their source at any time. Please check the source before completing the order.

Your journey in Nu'ayn:

1. Request the service and complete the payment
2. We will contact you and send you all the requirements.
3. We submit the request

For further inquiries, please contact us via WhatsApp. 0533227672