Mobile Vending Trucks (Food Trucks) Product


Target Audience
All Citizens 

Beneficiaries
86

Service Fees
Nominal Fee

Strategic Engagement
 
Providing funding services for small-size projects.

International Strategic Engagement:
Vending Carts financing product intersects with the eighth objective of the United Nations sustainable development objectives.
It can be found here


provides support to citizens through the opening of micro-projects in the field of mobile vending cart with financing limits of up to 250,000 SAR.

About Product

This program aims to provide financing for opening micro enterprises in the field of mobile vending trucks, where financing can reach up to two hundred fifty thousand Saudi Riyals (SR 250.000).

 

The financing Scope
The maximum funding for this product is 250 thousand SAR.

Conditions of Submission
  • The general conditions that are required to be met by the applicant for funding are as follows:
  • The applicant for funding shall be a Saudi national and have the conditions for applying.
  • Qualifications and experience:
  • Service and commercial activities do not require experience and assessment by interview and requires the ability to write and read.
  • Professional activities require a professional qualification or experience of not less than six months. In case
  • The applicant shall be at least 21 years old and not more than 60 years.
  • The applicant shall not combine two funding requests from the financing bank programs.
  • The applicant shall be unoccupied for the operation of its project.
  • The financial and credit status of applicant shall allow access to finance.
  • Filling out the application forms for each program and complete the other requirements related to the completion of the evaluation process in bank.
  • ‎Real guarantee or payment and performance bondsman shall be provided at least 70% of the required amount of financing from the Bank.
  • The maximum amount of financing from the bank is 250 thousand SAR.


 

Application Requirements

A financing applicant should fulfill the following general requirements:

  • The applicant should be a Saudi national fulfilling all the application requirements.
  • Qualifications and experience
  • Service and commercial enterprises do not require experience. Assessment is conducted based on the interview, provided that the applicant can read and write.
  • Professional enterprises require a professional qualification or an experience of no less than six months 
  • The applicant should not be younger than 21 and not older than 60 years old.
  • The financing applicant cannot present (or combine) two financing applications of the bank financing programs.
  • The applicant should be work full-time to manage and operate his/her project.
  • The applicant should have a financial position and a credit history that entitle him / her to obtain the funding.
  • The financing applicant has to fill in all application forms of each program and complete the other requirements pertinent to his / her application so that the bank can complete the assessment procedures.
  • The applicant should provide a real guarantee or a surety security of a value no less than 70 % of the total amount of financing required from the bank.
  • The maximum limit of financing from the bank is two hundred fifty thousand Saudi Riyals (SR 250.000).

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