Fast Finance for Micro and Small Enterprises in Saudi Arabia
3 Simple steps to finance
Fast Finance for Micro and Small Enterprises in Saudi Arabia
A strategic cooperation between SDB and GIB has enabled the launch of this new digital financing platform which provides swift and efficient access to finance for micro and small enterprises (MSMEs) in Saudi Arabia, using Beehive's modern financial technology solutions.
MSMEs can choose between two products, Working Capital Finance or Term Finance, depending on their needs.
Working Capital Finance
Working Capital Finance provides flexible, short-term financing to quickly improve cashflow. Businesses can provide their invoices that will be financed up to 4 months.
Term Finance
Term Finance enables fast, flexible and low-cost borrowing for creditworthy MSMEs who want to expand, with terms loan up to 36 months.
Minimum Criteria
- SAR2 Million revenue p.a.
- At least 2 years in operation
- Saudi registered company
- Majority owned by a Saudi national
- At least 80% of revenue reflected in company bank accounts
- Audited Financial Statements
- Minimum Low Green Nitaqat
- VAT Registered Entity
The rate may vary depending on amount, loan period and risk criteria for each client.
The Rates of Financing Products
Pricing
For more information on fees and charges please see below :
Frequently Asked Questions
What are the minimum and maximum amounts that you fund?
Currently, we are able to offer financing between SAR100,000 and SAR 3,000,000 on terms up to 36 months.
What is your eligibility criteria for MSME borrowers?
Your MSME must be an established KSA-based business (at least two years of trading) with an annual revenue in excess of SAR2 million, a growth track record and be either profitable or be able to demonstrate a path to profitability. All business applications go through a detailed credit assessment covering the above and more.
How will I be checked?
All businesses applying for finance requests with Digital Lending for MSMEs need to provide the necessary financial and business documentation in order that a full risk assessment can be completed.
Does my business need to be based in Saudi Arabia?
Currently we only accept applications from KSA-based businesses.
How does my MSME make repayments?
All MSMEs receive their finance into their new GIB current account, which they can access via GIB ebanking. Repayments are debited from the account on a monthly basis throughout the loan term until it is fully repaid.
What are the targeted activities for financing ?
• Support services
• Information and information technology
• Retail, wholesale and trade specialist
• Health care, education and sports
• Media and Marketing
• Food and restaurants
• Professional and technical services
• Lean manufacturing
• Environmental and energy services
• Private commercial contractors (supply, supply, installation, contractors and maintenance)