Excellence Projects
Program

Aims to finance projects that exceed the investment cost of 300 thousand Saudi riyals, do not exceed 8 million Saudi riyals and meet one of the criteria of excellence set by the bank.

Last Updated:2022/12/08 Gregorian

Target Audience

 Citizens 

Beneficiaries

1081

 

Administrative Fees

administrative fee 7 % 
   annual Fee 1 %

Responding Rime

24/7

USer Guide

               

About Financing


Because we believe that SME's are the main engine in the economy of societies, we have been keen to develop a group of financing products that vary in the diversity of all aspirations.

Financing Limit

 Up to SAR 4 million

Financing Term

Up to 8 years

Re-Payment Method

Monthly

Administrative Fees

administrative fee 7 % 
annual fee 1 %

Grace Period

Up to 2 years

Submission requirements


  • Commercial Register

  • Memorandum of Association if the legal entity is a company

  • Fill out the form of guarantees acknowledgment (to download the file, click here.)

  • Copy of the Owner's ID, or partners’ IDs if they are a company

  • Copy of the academic qualification

  • Copy of a CV

  • Proof of practical experience

  • Feasibility study or action plan of the project needed to be financed, besides quotations

  • Copy of the academic qualification

About "Wazeen"


  • Applicant age shall be from 21 to 62

  • Integrity of the credit register, where the defaults shall not exceed an amount of SAR 15k

  • Warranties: Mortgage – personal guarantee – third party guarantee – companies and institutions guarantee – financial guarantee

  • Job sabbatical, and it is permissible to provide financing to the Applicant, in case of not meeting the condition of job sabbatical, on condition that a full-time experienced Saudi manager is provided for managing the enterprise

  • Commercial sabbatical, where more than a trade license/partnership may be held in enterprises other than that enterprise required to be financed

  • Pass the personal interview

مميزات
البرنامج

  • أن يكون لدى العميل تمويل عمل حر قائم.

  • التسجيل في برنامج الحوافز.

  • مضي سنة على صرف التمويل للعميل وأن يكون منتظماً في سداد الأقساط المستحقة.

  • أن يكون حساب العميل في برنامج الحوافز فعال ونشط.

  • استيفاء معايير التحقق لإثبات ممارسته للنشاط الممول عن طريق أحدالمنصات او التطبيقات المعتمدة لدى البنك.

  • ​ألا يتجاوز مقدار الحافز قيمة الرسوم الإدارية المخصومة من أصل التمويل قبل صرفه للعميل.

  • يتم احتساب الحافز بشكل آلي بالنظام البنكي وفق المعايير المحددة للبرنامج.

  • Applicant age shall be from 21 to 62

  • Integrity of the credit register, where the defaults shall not exceed an amount of SAR 15k

  • Warranties: Mortgage – personal guarantee – third party guarantee – companies and institutions guarantee – financial guarantee

  • Job sabbatical, and it is permissible to provide financing to the Applicant, in case of not meeting the condition of job sabbatical, on condition that a full-time experienced Saudi manager is provided for managing the enterprise

  • Commercial sabbatical, where more than a trade license/partnership may be held in enterprises other than that enterprise required to be financed

  • Pass the personal interview

  • أن يكون لدى العميل تمويل عمل حر قائم.

  • التسجيل في برنامج الحوافز.

  • مضي سنة على صرف التمويل للعميل وأن يكون منتظماً في سداد الأقساط المستحقة.

  • أن يكون حساب العميل في برنامج الحوافز فعال ونشط.

  • استيفاء معايير التحقق لإثبات ممارسته للنشاط الممول عن طريق أحدالمنصات او التطبيقات المعتمدة لدى البنك.

  • ​ألا يتجاوز مقدار الحافز قيمة الرسوم الإدارية المخصومة من أصل التمويل قبل صرفه للعميل.

  • يتم احتساب الحافز بشكل آلي بالنظام البنكي وفق المعايير المحددة للبرنامج.

Customer Jaurney


Submit application

Check eligibility

Process

Disbursement

 
...
internal Strategic Engagement

Providing funding services for small-size projects

...
International Strategic Engagement:

Excellence Projects financing product intersects with the ninth objective of the United Nations sustainable development objectives.
It can be found here

...
Do you have any questions?

If you have any questions about Excellence Projects Program, please view our Frequently Asked Questions or contact us.

...
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Comments

Result

4.7 (From 3 Ratings)
 
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