About the Initiative Project
Financing mobile POS
The Bank offers through this funding tool a support to citizens of both gender to establish microenterprises in field of mobile POS with a financing amounting up to 250 thousand Riyals.
- The applicant shall be of Saudi nationality.
- Age: The applicant shall be over 21 and under 65 years old.
- The applicant shall not apply for two request for funding of the bank funding programmmes.
- Qualifications: The applicant shall hold, at least, secondary degree (thanawaya amaa’) or equivalent.
- The applicant shall be unoccupied to operate their own project or appoint an experienced qualified Saudi manager.
- The financial and credit status of the applicant shall enable them to fund the project.
- The applicant shall fill the application sheet of each programme and shall meet the other requirements relevant to the bank assessments process. (Professional activities: Specialized degree or one-year experience; whatsoever the bank accepts. Commercial and service activities: Passing the interview)
- To be listed the projects that the bank provides funding.
- To add value to national economy.
- For the project, to be new or under construction (has not been operated for more than three years)
- The funding amount shall not exceed 250,000 Riyals
- To offer payment guarantee at least 50% of the bank funding.
- To pay services charges.
- Pass the interview.