Applying for Entrepreneurship Financing

Overview of Reyada Financing: a product aimed at financing assets and operational costs for new business entities. Requirements for financing: 1. The beneficiary must be Saudi / Saudi nationality. 2. The qualification must be at least intermediate. 3. The applicant must be unemployed. 4. The activity location must be in the Kingdom of Saudi Arabia. 5. Age range: 21 years and not exceeding 62 years. 6. Good credit record. 7. The applicant must be fully dedicated to work before signing the financing contract. 8. The guarantee percentage must not be less than 100% of the financing amount, on the condition that the type of guarantee is a personal guarantee only, deducted from the salary according to the approved entities guide in the bank system. 9. The project must be new, and the registration period must not exceed 6 months. 10. The installment percentage from the guarantor's salary must not exceed 45%. Does Reyada need a guarantor? The applicant must provide a government guarantor who is actively employed. Product features: - Financing ceiling starts from 50,000 to 500,000 riyals. - Financing period up to 8 years. - Grace period up to 18 months. - Repayment method: monthly. - Administrative fees: 7%, with the possibility of deducting the fee from the principal of the financing. - Annual service fee: 1%. Note: • To learn more about Reyada financing, please select the inquiry package for financing. • The application does not include a feasibility study; the feasibility study is conducted on the client.