During a meeting organized by the Asharqia Chamber
The Social Development Bank announces more than 10 financing products for small and emerging projects
An official at the Social Development Bank affirmed that the bank is keen to support entrepreneurs, small and emerging enterprises, through financial and non-financial services, following the requirements and criteria set by the bank.
Director of the Emerging Enterprises Department at the bank, Eid Bin Najr Al-Dalbahi, who was speaking to businessmen in Al-Khafji Governorate, said that the non-financial services include providing consultations and holding training courses through the “Dalni” center.
Al-Dalbahi added, during a meeting organized on Tuesday (24/August 2021), by the Asharqia Chamber, represented by the Chamber’s Branch Business Council in Al-Khafji Governorate, that the bank offers more than 10 financing products for small and emerging enterprises targeting entrepreneurs, and each product has conditions that need to be met, as shown on the product page on the website. The electronic bank, for example, the age, qualification, number of years of experience required the integrity of the credit history and the activity of the facility.
Al-Dalbahi said during the remote meeting, which was moderated by the Vice-President of the Council, Fahd bin Mudhi Al-Enezi, that the amount of financing varies between the financing products offered by the bank to support enterprises due to the different target segments for each product. As the financing ceiling for start-ups reaches 4 million riyals, and the volume of financing reaches 10 million riyals for small projects whose operating life exceeds at least 3 years, stressing the bank's keenness to support activities that are in line with the bank's strategic objectives.
Al-Delbahi said that the bank aims to spread financial awareness and promote a culture of self-employment among all segments of society, and to support the micro and small enterprises sector, pointing to the importance of the Delnee Business Center, which is interested in providing a package of non-financial services to micro and small enterprises, which vary between training Consulting and guidance, to improve the performance of these establishments and develop them to meet the challenges represented in understanding the market, the regulatory environment, how to manage the business, access to the market, competition and prevention of default.
