Wa'ed’s offers non-collateral loans (up to 5 million SAR) and provides coaching to start-ups and early-stage companies that fill gaps in the Saudi economy, advance the modernization of industry, promote sustainability and create local jobs and products made in the Kingdom.
Loan applicant requirements:
- Must be 18 to 60 years old, holders of at least a high school certificate
- Owner or business partner must be a Saudi national
- Possess a project idea or business plan
- Must submit to rigorous prequalification process
*Members of the Saudi military and employees of Aramco and its subsidiaries are not eligible.
Lending terms:
- Repayment up to five years maximum
- Up to 2-year grace period, with restrictions
- Available only to firms incorporated or incorporating in the Kingdom
- The applicant must contribute a percentage of the total cost of the business venture. This percentage will be determined by the credit team
- Loans are provided against a management fee to be determined on case by case basis and are secured through a personal guarantee from the project owner(s)
Lending criteria:
- Experience, track record of management
- Differentiation and scalability of business
- Market size, competitive positioning, financial outlook
- Risk, tax, compliance and governance analysis
Unsupported Sectors:
- Agriculture
- Construction
- Trading
- Real Estate
- Micro- business
Portfolio
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