Sahim
Loan

It is a financing product that aims to finance cooperative societies that are established to carry out profitable activities with the aim of improving the economic and social condition of the members and to be a source of income

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  1. Financing up to 10 million riyals
  2. The repayment period is up to 7 years
  3. The grace period is up to 18 months
  4. Flexibility in the payment mechanism
  5. Nominal fee

  • The entity requesting funding must be registered with the Ministry of Human Resources and Social Development
  • The entity shall have a qualified and independent Board of Directors
  • To have a headquarters in the geographical area in which it provides its services
  • To be committed to providing all financing requirements required by the program
  • The project to be funded should be within the objectives and activities of the association specified in its approved bylaws

  • A valid license from the Ministry of Human Resources and Social Development
  • The decision of the beneficiary's board of directors approving the establishment of the required project
  • An acknowledgment of providing the self-contribution and guarantees required by the program
  • Attach a copy of the minutes of the General Assembly meeting to authorize the Board of Directors to invest
  • The decision to appoint members of the current board of directors
  • Approved financial statements for the last two years (if any)
  • A copy of the basic regulations of the entity, which must provide for the possibility of borrowing and mortgage
  • An economic feasibility study for the project
  • Title deed / lease contract for the land on which the project will be built
  • Any additional financial documents/data required by the program

The department is contacted to find out the status of the application by e-mail: Microfinance@sdb.gov.sa
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Target Audience
Cooperative Organizations
Beneficiaries
New Product
Service Fees
Free
Response Time:
24/7
Submission channels:
 
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Submission language:
Arabic
User's guide:
 User's Guide
Service application start date
    2019  114-200.png          
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Internal Strategic Engagement

 

Developing and strengthening the microfinance system.

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International strategic link

The "Finance Brokers" product intersects with the first, second and seventeenth goals of the sustainable development goals.

Product Features

Funding Ceiling
Up to 10M SAR

Loan Duration
Up to 7 years

Payment Method
Flexible

Administrative Fees
Nominal


Grace Period
18 months

Customer Journey

Submit Application

Eligibility Check

Processing

Deposit

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Do you have any inquiries? 

If you have any questions regarding the Sahim Loan, please see the Frequently Asked Questions.

FAQ Contact Us
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