Pointsales
Product

A financing product that targets small enterprises that uses POS devices, as it provides quick financing solutions to cover the needs of the establishment, with a financing value equivalent to 50% of POS revenues for a period of 12 months.
Product's Video - with Sign Language

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  1. Financing starts from 180,000 riyals to 10 million riyals
  2. Financing period up to 5 years
  3. Payment method on a monthly basis
  4. Administrative fees are 7%, with the possibility of deducting fees from the original financing
  5. 7% annual service fee

  • The establishments’ revenues should range from 360,000 riyals to 40 million riyals
  • The operating period of the facility is not less than 24 months.
  • The period of selling points of sale for the establishment should not be less than 12 months.
  • Integrity of the credit record of the company and the owner from any defaults

  • Commercial register
  • Memorandum of Association and its appendices in case the legal entity is a “company”
  • Identity copies of the owner or partners in case the legal entity is a "company"
  • Tax return for 12 months
  • Account statement showing the facility's revenues from points of sale for a period of 6 months

10 Million SAR
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Target Audience
Micro and small companies
Beneficiaries
New
Service Fees
5% administrative fee
1% annual service fee
And the cost of installing point of sale devices
Response Time:
24/7
Submission channels:
 
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Submission language:
Arabic
User's guide:
User's Guide
Service application start date
   2020  114-200.png         
...
Internal Strategic Engagement

Financing the "points of sale" product intersects with one of the bank's strategic objectives: Facilitate and provide financing and products for small and emerging enterprises

...
International strategic link

The point of sale product intersects with the ninth goal of the United Nations Sustainable Development Goals. It can be viewed here

Product Features

Funding Ceiling
Up to 10M SAR

Loan Duration
Up to 5 years

Payment Method
Monthly

Administrative Fees
Administrative fee 7%
Annual service fee 7%
 


Grace Period
-

Customer Journey

Submit Application

Eligibility Check

Processing

Deposit

...
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Result

3.2 (From 3634 Ratings)
 
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