About the Initiative Project
Afaq program
Afaq program of industries fund to support Industrial projects- especially the small and medium-scale ones- by offering two products:
First objective: To encourage the growth of promising small and medium-scale industries
The second objective: Partnership with business incubators as the industrial business incubators of Badir program to encourage the industrial business entrepreneur by supporting their emerging projects at their initial stages.
Project Application
Requirements
- Valid industrial licensing
- Meeting all the requirement of the loan application form (the e-application).
- The industrial sector shall have a commercial impact at local markets.
- The project owner shall authorize the project representative to revise fund by submitting a copy of his ID card.
- At least one competitive offer for raw materials and mobilization.
- At least one competitive offer for the project needs of main manufacturing areas.
- Architectural drawings represent the general outline for the project and buildings areas and its dimensions in addition to manufacturing equipment areas inside the factory.
- The audited financial data for the last three years (In case that the project is under operation).