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 Contracts Financing Program

 Contracts Financing Program

13-06-2024
Granting facilities for contract financing associated with the implementation of construction contracts or other contracting of all types, where projects have been assigned from governmental or semi-governmental organizations.
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Features

  • Max. Limit per client is SAR 2,800,000
  • Min. Limit per client is SAR 700,000
  • Letter of Credit up to SAR 10,500,000
  • Financing tenor: up to 48 months 

Terms & Conditions

  • Contracts must be with government or semi-government organizations.
  • The client’s Activity age: should be at least two years.
  •  Providing audited/internal financial statements.

Required Documents

  • A copy of the commercial register 
  • A copy of the partners' IDs
  • A copy of the companies’ Article of Association and its amendments, if any, a copy of the licenses.
  •  Fill and sign SIMAH declaration 

​​FAQs


How much is the financing amount?

The financing amount does not exceed 80% of the value of invoices and does not exceed the amount 2,800,000


what are the prices?

Depends on the type of request made by the client
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An example of how theContracts Financing Program is calculated:

Type of FinancingContracts Finance
Financing Calculation MethodAmount X Profit Rate
Amount 1,000,000.00 
Minimum Profit Rate6.7%
Profit Calculation MethodSemiannual
No. of Financing Days180
Profit67,000.00

 

Type of FinancingContracts Finance
Financing Calculation MethodAmount X Profit Rate
Amount 1,000,000.00 
Minimum Profit Rate1.12%
Profit Calculation MethodMonthly  
No. of Financing Days30
Profit11,200.00

 

Type of FinancingContracts Finance
Financing Calculation MethodAmount X Profit Rate
Amount
 1,000,000.00 
Minimum Profit Rate 3.35%
Profit Calculation MethodQuarterly
No. of Financing Days90
Profit33,500.00

 


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