Applying for Excellence Financing

Excellence Financing: The financing of excellence projects intersects with one of the bank's strategic goals of facilitating and providing financing and products for small and emerging enterprises (a financing product targeting promising enterprises (new or no more than 3 years old) with financing up to 4 million riyals. Beneficiaries: • Citizens • Female citizens Application requirements: • The applicant's age must be between 21 and 65 years • General secondary education at minimum or its equivalent • Full-time employment, and financing may be granted to the applicant if they are a student • If the applicant is not fully employed, a full-time Saudi manager must be provided to manage the enterprise with experience • Good credit record and no defaults exceeding 15,000 riyals • Accepted guarantees (mortgage – personal guarantee – third-party guarantee – company and institution guarantees – financial guarantee) • Ability to provide a guarantee coverage of at least 50% of the financing amount • Passing the personal interview Registration requirements: • Commercial registration (optional) • Articles of incorporation if the legal entity is a company (optional) • Copy of the owner’s or partners’ ID if it is a company • Fill out the guarantee declaration form (to download the file, click) • Copy of educational qualification • Copy of the CV • Proof of work experience • Economic feasibility study or the business plan for the project to be financed and price offers Service features: • Financing ceiling starts from 300,000 to 4 million riyals • Financing term up to 8 years • Grace period up to two years • Repayment method is monthly • Administrative fees 7%, with the possibility of deducting the fees from the principal • Annual service fee 1% (students, unemployed, employed in the private sector, retired in the private sector, and retired women in the private sector must have a government guarantor) After purchasing the service, we will contact you via WhatsApp. Note: • To learn more about Excellence Financing, please select the inquiry package for financing