During the meeting of entrepreneurs of Asharqia Chamber
The Head of Productive Loans at the Social Development Bank (SDB) reviews the mechanism of supporting small and medium enterprises.
Head of Productive Loans Department at the (SDB ) Khalid Bin Ahmed Al-Ghamdi said that since its establishment in 1391, the Bank has been striving to be a leader in enabling social development tools and enhancing the financial independence of individuals and families towards a vibrant and productive society.
Al Ghamdi said during the meeting of entrepreneurs organized by the Chamber within the programs of the Youth Business Council, on Tuesday evening, September 30, 2019, and managed by the Council member Mohammed bin Khalid Al Mohammadi in the presence of the Council President Abdullah bin Faisal Al Breikan, (SDB) aims to provide interest-free loans to small and emerging enterprises and owners of trades. (SDB) provides interest-free social loans to low-income citizens to help them overcome their financial difficulties and encourages savings for individuals and institutions in the country, and find tools that achieve the aim.
Regarding the advantages of the products of the (SDB) Al-Ghamdi said that the advantages offered by the bank help to promote the businessmen as the bank provides interest-free financing, in addition to the permitting period starting from the date of disbursement of the first payment for 18 months and more, and easy installments and repayment period up to 96 months. In addition, the bank carries out special programs that qualify and sponsor entrepreneurs through training courses and free financial and marketing consultations.
Regarding the stages of applying for loans provided by the (SDB) Al-Ghamdi explained that at the beginning, the application for financing should be sent electronically then, after which the application is opened to come to the stage of personal interview, The applicant will then be enrolled in qualifying training courses, then prepare a work plan for the project. Finally, sign contracts and disbursement payments.
One of the non-financial services provided by the bank is the initiative of the Delni Business Center, which is interested in providing a package of non-financial services for small and medium enterprises, ranging from training, consulting and extension, with the aim of improving the performance of small and emerging enterprises and develop them to meet the challenges of understanding the market and the regulatory environment and how to manage business and access to the market, competition and tripping prevention. At the end of the meeting, al-Ghamdi was honored with a memorial shield.