Apply for cash financing

A product aimed at financing the assets and operating cycle of new and existing businesses whose sales do not exceed 40 million riyals.

Financing features:

1. Financing starts from 50,000 to 500,000 riyals
2. Financing period of up to 6 years (including grace period)
3. Grace period of up to 3 months
4. Payment method: monthly
5. Administrative fees 7%
6. Annual service fee 3.5%
7. The funding is disbursed in a single installment.

To obtain liquidity financing, the following conditions must be met:

• The applicant must be a Saudi national.
• The commercial register must be at least 12 months old.
• The commercial register must be active.
• It is permissible to own or have a partnership in a facility other than the facility to be financed.
• The applicant must own an equal or higher share if there are partners in the project.
• An annual sales cap of 40 million is required.
• A sound credit history, with defaults not exceeding 15,000 riyals and not exceeding 90 days.
• Providing one or more government employee sponsors (maximum 4).
• The commercial register activity should not be:

| Insurance and brokerage.

| Selling watches, jewelry, gold and precious products.

| Selling and raising livestock.

| Agricultural products.

| Illegal activities.

| Speculative activities.

| Any activities supported by other government funds.

Warranty conditions:

• To be a government employee or a government company in which the state has a stake of more than 50% of the capital.

• The salary should not be less than 10 thousand.

• His financial obligations should not be high according to the development bank’s policy.

• Not to be a guarantor for two other loans without borrowing, a guarantor for a loan and a beneficiary of one of the Development Bank’s loans.

• There are no arrears on the sponsor.

• His age should not exceed 55 years.

• Sponsorship from Aramco or SABIC employees is not accepted.

Your trip to Na'in:

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 more inquiries, please contact us on WhatsApp 0533227672

comments:

• Personal guarantee is not accepted (you cannot be your own guarantor)
• The terms were taken from their source, and the terms may be updated from their source at any time. Please check the source before completing the application.