Technology Development Financing Initiative

A momentum for your tech business

The initiative enables technology startups and SMEs to achieve growth by providing a guarantee of up to SR15 million to financing provided from the involved banks and financing entities

Beneficiaries: Technology Companies

Startups

With a registration certificate from "Manassa Tech​"

Small and medium-sized companies

With a registration certificate from "Manassa Tech​"

Initiative Goals

Enable growth and development of technology companies

Enhance financing entities capacity to finance technology companies

Initiative main features

The initiative is open to companies which Commercial Registration (CR) includes technology-related activities as defined by the ISIC4 (The National Classification for the Economic Activities), and that hold a valid registration certificate from the "Manassa Tech" as well as the performance card for local content

Guarantee on a financing from one of the participating banks or financing entities

In partnership with Kafalah Program

Guarantee for financing with a range of SR100,000 - 15 Million

Guarantee on up to 90% of the financed amount

Financing is requested directly from the participating banks, financing entities, or through the "Tamweel Portal" from Monsha'at

Initative Benefits

Up to SR15 Million guarantee on growth financing

Encourage risk-taking and ambitious planning for business growth

Beneficiary journey

The company submits a request to one of the participating banks or financing entities, or through the "Tamweel Portal" from Monsha'at

The bank or financing entity and Kafalah program review the request

After the approval, the company receives the funds from the bank or the financing entity with the guarantee from Kafalah program and NTDP

The bank or financing entity monitors the performance

FAQ

Financing is provided directly from the involved bank or the financing entity with in accordance with their credit terms. The inititative provides a guarantee for up to 90% of the financed amount.

 

The objective of application through the "Tamweel Portal" from Monsha'at is to allow all the involved banks and financing entities to review the application and propose to the company their financing proposal. Applying directly to a participating bank or financing entity delivers the request only to its recipient.

Saudi technology startups and Small and medium-sized companies are the only beneficiaries of the initiative.

The program does not get any interest since it is a national development program. In partnership with Kafalah, the program provides companies that comply with the initiative terms a guarantee on the financing provided by the banks and the financing entities