Wa’ed’s loan program guides entrepreneurial talents through the necessary steps to ensure thorough preparation for debt funding. The program’s team provides integrated and comprehensive services that will meet the needs and requirements of entrepreneurs seeking to establish or expand Small and Medium-sized Enterprises (SMEs) and to take these businesses to the next level.

From assessing your business idea to coaching on the development of your business plan, Wa’ed has designed services for various stages, starting from the initial screening process, leading to funding the business plan. Post-funding support is also provided with advisory services and innovative ideas to help entrepreneurs maximize their success and accelerate their growth.

Entrepreneurs go through a prequalification process to determine whether they have business plans that meet all of Wa’ed’s requirements. If an entrepreneur’s business plan needs further development, the entrepreneur will be required to complete the development of their business plan.

You are encouraged to apply for a training program prior to applying for loan.

If you are willing to invest time to pursue your business venture, Wa’ed is willing to invest time to help you through the process. The program provides planning tools and resources to help develop your business feasibility, and after funding, the team may link you to professionals for advice and guidance to keep you moving forward on your entrepreneurial path.

All applicants/entrepreneurs must satisfy the following conditions:

General Conditions:

  • Should be at least 18 years of age and not older than 65 years of age
  • Should have at least a high school certificate or its equivalent
  • Is not an active member in the military, navy, or air force
  • Saudi National
  • Does not work for Saudi Aramco or any of its subsidiaries
  • The loan is made to and utilized by a duly formed business entity [managed and controlled by the entrepreneur], whose operations must be based and registered in Saudi Arabia
  • Provide any documents and/or disclosures required by Wa’ed in order to complete the necessary due diligence to evaluate the application
  • Is working in and dedicated towards the proposed business on full time basis at the time of the funds disbursing/attribution
  • Does not currently benefit from any financial support (debt or equity funding) extended by Wa’ed or its subsidiaries

Financial Conditions:

  • The applicant must contribute a percentage of the total cost of the business venture. This percentage will be determined by the credit team
  • The applicant must authorize and pass the conducted credit check
  • The applicant must also pass the criminal history check
  • The applicant must commit to providing financial statements about the funded venture on a regular basis
  • Saudi Aramco Entrepreneurship Center (Wa’ed) reserves the right to ask for any additional information to ensure business viability
  • A grace period will be recommended based on the Center’s risk assessment after completion of the analysis and in any case, the initial period should not exceed 2 years
  • The loan repayment period can be up to 5 years
  • Management fee of SAR 50,000 will be applied

Business Eligibility:

  • Current or prospective business entities and operations must be based and registered in Saudi Arabia
  • Idea viability will be based on assessment from Wa’ed program team for potential market, technical details, management competences, among other business factors
  • Wa’ed program team has the right to reject any project that doesn’t fit into its current portfolio targets despite its viability.
  • A proposed business should exhibit Saudization plans
  • Start-up: a company set up by an entrepreneur(s) to invest in a repeatable and scalable business model. Such companies are relatively new and are still being developed based on ongoing market research
  • SME: an established company with a track record by an existing entrepreneur(s) under the SME definition of Saudi Arabia

Wa’ed has a Kingdom development focus and is not sector focused. Wa'ed finances value-driven projects in line with the following priorities;

  • Projects in remote and developing regions
  • Highest in quality job creation
  • Products that are first to be produced locally
  • Innovation driven projects
  • Products that replace imports

Wa’ed funds projects across a broad spectrum of sectors including Healthcare, Education, Energy-related ventures, among many other sectors, and is currently expanding into the Food & Beverage, Tourism, and Lifestyle sectors.

Online Application

The process begins with interested entrepreneurs registering on this website. Upon registration, they will fill an application form with information about their background and the business idea, and will be asked to attach the relevant documents such as their resume and business plan (if any).

Dossier Screening

In this stage, application dossiers are evaluated, screened and assessed against Wa’ed’s requirements to determine if they meet the necessary criteria. If the application scores well on the team and the idea evaluations, the entrepreneur will be moved to the interview stage.


An interview will be scheduled with the accepted applicant to obtain a better understanding of the business idea, and to get acquainted with the entrepreneur and learn more about his/her potential.

Business Plan Formulation

The business plan formulation stage is where each entrepreneur is assigned a Business Development Advisor (BDA) to help and guide in formulating the business plan. Those business plans with good potential move to the due diligence phase.

Pre-due diligence

Prioritization of projects, screening the viability of completed business plans, and background checks are all conducted in this phase.

Due Diligence and Credit Assessment

Before funding business plans, the Loan team conducts legal and commercial due diligence as well as credit checks on both entrepreneurs and established companies. Wa’ed’s funding committee then carefully analyzes the passing business plans and determines which ones will be financed.


A loan structure is constructed leading to the disbursement of funds.

Post Funding

Entrepreneurs continue to receive support and mentoring as their business venture gets underway. Through this, the Loan team provides monitoring and advice to funded ventures, ensuring their success and decreasing the probability of default.

Executive Summary

  • Size and type of company (created or to be created)
  • Type of products/services it offers
  • Basic information about the market and competition, including size of the addressable market
  • Strategy for success: Cost? Quality? Innovation?
  • Management team
  • Brief on expected financial performance
  • Amount and purpose of funds required
  • How funds will be paid back?

Products and Services

  • Customer problem/gap/opportunity description
  • Description of different product/service features and benefits
  • Future product and service development roadmap

Market and Competition

  • Market analysis
  • Market trends
  • Customer segmentation: size and growth forecasts for target segments
  • Competitive landscape
  • Opportunity
  • Size of addressable gap or need

Market Approach

  • Long term and short term objectives
  • Company strategy (approach to achieve long term objectives)
  • Strategic positioning (cost leadership, differentiation, access to privileged resources)
  • Marketing plan (tactics to achieve short-term objectives)
  • Channels
  • Sales forecast and pricing


  • Description of critical operations to the business
  • Support services (e.g. HR, legal, accounting, etc.)
  • Research and development
  • Production and inventory control
  • Cost structure dynamics

Management and Organization

  • CV’s of the management team
  • Roles and organizational structure based on:
    • Educational background
    • Experience
  • Compensation and incentives plan
  • Team building & development plan
  • Saudization plan
  • Project execution plan


  • Five (5) years financial projections, including:
    • Projected financial statements
    • Assumptions behind projections
    • Monthly balance sheets, income statements, and cash flow statements for the following two (2) years
  • Annual balance sheets, income statements, and cash flow statements for a further three (3) years in the future
  • Audited historical financial statements
  • Audited annual balance sheets, income statements, and cash flow statements for the past three years (if available)
  • Quotations for all required machinery, equipment and construction
  • Detailed business plan together with 5-year projections
  • Authorization for Aramco Entrepreneurship Center to perform due-diligence and credit check
  • A mutual Non-Disclosure Agreement (NDA) with Aramco Entrepreneurship Center
  • Documents showing proof of ownership of the proposed business
  • Documents for other sources of income (e.g. rentals, salary certificate, etc.), if required)
  • Pre-approval documents

Financial covenants

  • Minimum equity contribution as per contribution matrix
  • Minimum Debt Service Coverage Ratio (DSCR) (Total Operating Income/Debt Obligation)
  • Maximum leverage ratio (Debt/Equity)
  • Minimum current ratio or working capital (Current Assets/Current Liabilities)
  • Capital expenditures restrictions

Non-financial covenants

  • Restriction on change of ownership
  • Restriction on mergers and acquisitions
  • Restriction on change in management or board
  • Restriction on asset sales
  • Compliance with Saudization plan
  • Restriction on obtaining new debt in ordinary course of business only
  • Restriction on new equity

As part of the loan approval process, and based on the creditworthiness of the borrower, the approver can insist on including additional covenants.