Supporting small projects in the Kingdom of Saudi Arabia

The most important sources of financing small projects in Saudi Arabia:

Many Saudi companies support emerging small projects and contribute greatly to helping them grow and develop. Among these companies, we mention the following:

1. Supporting small projects from Bab Rizq Jameel:

The Bab Rizq Jameel initiative is one of the important initiatives undertaken by Abdul Latif Jameel in the year 2003 AD, and it is one of the first private non-governmental entities to provide project financing services. The programs of this initiative are not limited to providing loans to those wishing to start their small projects only, But it has many other goals, and among these goals, we mention to you:

1. Helping young job seekers by introducing them to job opportunities in various institutions and companies.
2. Provide support for those wishing to work from home.
3. Support those who want to establish small projects and help them achieve success by providing them with the appropriate environment, in addition to supporting any simple projects.
4. Securing many job opportunities for unemployed young men and women in the Kingdom of Saudi Arabia.
5. Financing new institutions, in addition to supporting companies and institutions with distinguished human resources.
6. Providing support to all those wishing to start their small projects by providing a commercial concession loan.

Terms of Bab Rizq Jameel Finance:

1. To be a government employee.
2. The sponsor shall not have any obligations or debts to any government agency.
3. The number of years of service of the sponsor should not be less than 3 years if he is an employee in the private sector, and two years if he is an employee in a government agency.

It is worth noting that the beneficiary must not be an employee, and his salary should not be less than 2,500 Saudi riyals.

2. Facilities House:

It is a company working to support and finance the ideas of small projects, and this institution was established to provide support to Saudi and international entrepreneurs and work to enable them to respond to the requirements of the market.

The Facilities House works to provide financial, legal, marketing, and administrative support, in addition to providing integrated solutions at all stages of investment development and growth, and to provide the basic services necessary to face sudden obstacles and challenges that may encounter the different stages of the project.

The House of Facilities also cooperates with existing business owners looking for a source of good startups and investors.

3. Biban to support Saudi youth projects:

Biban works to serve and support the entrepreneurship sector. This company enriches young people with distinctive entrepreneurial ideas, and ways to invest them by the owners of existing establishments, or by those who have the desire to establish new establishments from various sectors, through holding exhibitions and forums, and arousing the curiosity of Customers who wish to establish small and successful projects in Saudi Arabia, and visitors, by designing events characterized by content that takes visitors to new interesting aspirations and contributes to making the impossible a reality and tangible.

4. Abdul Latif Jameel Project Finance:

Providing assistance to Saudi youth of both sexes, providing jobs, providing financial support, working on training young people to develop work in various fields, and helping to start professional activity are all among the most important priorities of the Saudi businessman Abdul Latif Jameel, and financing projects by Abdul Latif Jameel Latif Jamil also achieve:

1. Offering good loans to finance electronic projects.
2. Work to provide companies with human resources that are looking for jobs.
3. Helping people who want to start small projects by offering a franchise loan.
4. Providing suitable job opportunities for young Saudi men and women.
5. Providing support and assistance to young people in the work of small projects.

5. Mahatajer Finance Company:

One of the most important objectives of the Matajer Company is the advancement of small businesses and projects, and it is one of the leading companies specializing in the field of financing sales in the Kingdom of Saudi Arabia, and it has specific conditions for financing companies and institutions.

6. Project Credit Bank Loan:

The most important features of bank loans are that there is no interest on them. That is, they are “good loans”, and there are many aspects that characterize the credit bank loan, including:

1. Providing fast customer service, providing all services to citizens, and providing all means of comfort to complete all procedures in an easy and fast manner.
2. No specific activity was specified for granting the loan, as it is characterized by comprehensiveness and support for all commercial activities.
3. Supporting all young people of both sexes who wish to work independently in the Kingdom of Saudi Arabia.
4. The goal of good loans is to ease the burdens of all young people who wish to improve their standard of living and livelihood.

What are the conditions of the credit bank for projects?

Some conditions must be met by the person wishing to benefit from a project credit bank loan, and these conditions are:

1. That the person holds Saudi Arabian nationality.
2. to be financially free; That is, he should not owe the bank another loan.
3. The monthly income should not exceed 10,000 Saudi riyals.
4. Commitment to repay the loan within a period not exceeding 60 months, and to start paying the monthly installments after 60 days from the date of disbursement of the loan.

7. The Saudi National Entrepreneurship Institute:

The Entrepreneurship Institute supports many projects, including computer software, refrigeration, air-conditioning, and blacksmithing, financial and engineering consulting, selling foodstuffs, selling women’s necessities, organizing and preparing workshops for parties and weddings, a clothing factory for veiled women, student services projects, a handmade carpet operator, And other projects that serve different areas of society.

What are the requirements for applying to the National Entrepreneurship Institute?

Many conditions must be met by the applicant, and among the most important of these conditions, we remind you, dear readers, of the following:

1. The applicant must hold Saudi Arabian nationality.
2. The age of the applicant should not be less than 21 years.
3. Full-time work on the project that he chose to establish.
4. He must have sufficient experience in his chosen field.
5. The conditions of the lending entity must be met.

What are the requirements of the National Entrepreneurship Institute to support projects?

1. The project should have an economic value that contributes to the development of the national economy.
2. To be on the list of projects financed by the Saudi Savings and Credit Bank.
3. It should not conflict with the requirements of occupational safety, health, and the environment.
4. The total investment cost of the project should not exceed 300 thousand riyals.

Thus, dear readers, we have presented to you the most prominent and important companies that support small projects in the Kingdom of Saudi Arabia.