SAR 240 million is the financing target for 2025 as the Small and Medium Enterprises (SME) Bank launches the second phase of its agency model. The initiative is implemented in partnership with debt-based crowdfunding platforms Manafa, Lendo, and Tameed.
According to SPA, the agency model involves funds allocated by SME Bank and managed by the platforms under specific conditions to finance micro, small, and medium enterprises. The program offers financing amounts from a minimum of SAR 50,000 to a maximum of SAR 1 million based on credit assessment and enterprise needs.
Financing terms include repayment periods of up to 12 months and a grace period of up to three months for certain products. The second phase aims to accelerate digital-driven access to financing for e-commerce businesses and startups.
The first phase of the program provided over SAR 88 million in financing to micro, small, and medium enterprises across various sectors. Entrepreneurs and SME owners can apply through the financing gateway.
What are the financing limits and terms for the SME Bank agency model? The program provides financing amounts ranging from a minimum of SAR 50,000 to a maximum of SAR 1 million, depending on credit assessment and the needs of the enterprise. These financial solutions offer flexible repayment periods of up to 12 months and include a grace period of up to three months for certain products to help entrepreneurs manage their financial obligations.
Which partners are involved in the second phase of the agency model? The Small and Medium Enterprises (SME) Bank is implementing this initiative in partnership with three debt-based crowdfunding platforms: Manafa, Lendo, and Tameed. These platforms manage the portfolio on behalf of the bank under specific conditions to allocate funds directly to micro, small, and medium enterprises.
What was achieved during the first phase of the agency model program? The first phase of the program provided over SAR 88 million in financing to numerous micro, small, and medium enterprises. These funds were distributed across various sectors to stimulate economic growth and enhance financial sustainability, leading to the launch of the second phase for 2025.