Ayed Product


Target Audience
All Citizens   

Beneficiaries
New

Service Fees
Nominal Fee

Strategic Engagement
Providing funding services for small-size projects.

International Strategic Engagement:
Business Ancubators and Accelerators financing product intersects with the ninth objective of the United Nations sustainable development objectives.
It can be found here


Ayed is a financing product that is offered by the Social Development Bank in collaboration with SABIC’s NUSANED platform to help finance start-ups and micro enterprises that develop the local content in the local industries and services.

 

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Product Objectives  

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  • The product aims to
  • increase the private sector’s contribution to the gross domestic product (GDP) from 40 % up to 65 % by 2030 A. D.
  • increase the contribution of the small and medium size enterprises to the gross domestic product from 20 % up to 35 % by 2030 A.D.
  • reduce the unemployment rate from 11.7 % down to 7 % by 2030 A.D.
  • increase the contribution of exports in the non-oil gross domestic product from 16% up to 50% by 2030 A.D.
  • increase the percentage of nationalization in the oil and gas sector from 40 % up to 75 % by 2030 A. D.



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General Requirements

 
  • The applicant should be a Saudi national.
  • Age: The applicant should be younger than 25 and not older than 65 years old.
  • Qualifications: The applicant should have a minimum of general certificate of Secondary Education (high school) or equivalent.
  • Experience:  Experience depends on the recommendation presented by the company.
  • The applicant cannot present two financing applications of the bank financing programs.
  • The applicant should be work as a full-time manager of his / her enterprise.
  • Obtaining a recommendation letter for financing from SABIC company.
  • Providing payment guarantee letters.


Application Times

Funding applications are received and processed in collaboration with partner entities. The dates for receiving and processing applications are specified in accordance with the procedures adopted by the partner entity which are usually detailed on the website of the partner. 



 

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