العربية

Afaq

SMEs have a major role in the Saudi economy and and in​​​ appreciation of the challenges faced by the owners of these projects in finding appropriate financing for their projects,the Afaq program was established to meet the needs of owners of small and medium industrial projects. ​

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Industrial Business Incubators ​​ ​:​

  • The program is designed to activate partnerships with incubators/accelerators to offer financial support to their qualified and eligible industrial entrepreneurs through soft loans (The Promising Factories Initiative, i.e., PFI). For more details about the initiative, please visit the link.
  • This support is intended to motivate entrepreneurs to transform their ideas into promising and pioneering projects that serve the National Strategy for Industry (NIS) objectives.
  • Given that incubators/accelerators lack funding support for entrepreneurs, SIDF aims to bridge the financing gap by providing soft loans (PFI).​


Requirements to A​pply for the Program:

  •  The project must fall within the Industrial sectors that serve the National Strategy for Industry (NIS) objectives. For more details about NIS sectors, please click here.
  •  The project must be economically viable and provide added value, such as (substituting imported products, solving existing challenges,  having qualitative know-how or patents, or others).
  • The project should not fall within sectors that are not financed by SIDF currently. For more details, please click here​​
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Program Benefits:​​

The benefits you receive from the program may vary based on the incubator/partner program you join, as each offers its unique advantages.
However, they all share a common benefit: providing essential support and guidance to help qualify your project for the PFI.
This includes offering training and workshops to assist in the development of the project feasibility study and plan.

The final approval is contingent upon project feasibility and the initiative policy and conditions.​​

Partner Business Incubators:

  • 1K Mile program
  • NUSANED program
  • Nummo Accelerator
  • King Saud University (KSU)
  • Prince Sultan bin Abdulaziz Development Fund (PSDF).
  • ​​​King Faisal University​
  1. SIDF provides financial support to graduate partners who meet the eligibility criteria set by both SIDF and the Promising Factories initiative.
  2. The details regarding the scope, duration, timelines, and benefits of the partner programs may vary from one program to another, according to the specific policies and frameworks of each partner.
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Ask an Expert Initiative:

It is one of SIDF initiatives where SIDF experts provide technical advisory in several fields such as manufacturing, construction and industrial safety. The initiative aims to support investors in all SIDF-financeable sectors (Industry, Mining, Energy and Logistics) through Nawafeth platform of Small and Medium Enterprises General Authority.

Features:​

  • Easy and quick access to SIDF experts.
  • Inclusive of all NIDLP's Program sectors.
  • Free of charge.
  • For all SMEs.
  • For all investors in the targeted sectors (SIDF clients/nonclients).

SMEs Scale-Up Initiative

In line with supporting promising small and medium-sized industrial enterprises, SMEs Scale-Up Initiative was launched to provide financial facilities to increase production capacity and deliver the growth and expansion that resonates with our investor’s aspirations. This initiative is available for both new and existing investors with good SIDF standing.

The Program Incentives Offer:

  • Longer tenure (minimum of 8 years).
  • Longer grace period (up to 24 months).
  • Possibility to reduce net worth requirement to 50% of the loan amount.
  • Upfront disbursement of 30% of the loan amount.

The Initiative Requirements:

  • Brownfield projects with 3 years audited financials.
  • Increase in revenue -or- volume sold.
  • Terms and conditions apply.

* Contact the relationship manager to confirm eligibility.​

Process

 
Registration
Submitting an application
 
Pre-Screening
Eligibility to program to be determined based on the project description
 
Evaluation
SIDF will analyze
the project
 
Contract & Signing
The loan request is formally
accepted, registered


Tomoh Industrial Track:

This track targets developing fast growing small and medium industrial enterprises in “Tomoh” Program under the Small and Medium Enterprises General Authority (Monsha’at), aiming to create added value to foster their growth and develop their capabilities by linking them with service providers and support agencies from the public and private sectors

Advantages:

  • Diagnostic analysis of enterprise business to identify aspects of development​
  • Designing a growth plan for the enterprise
  • Leveraging services provided on “Tomoh” platform
  • Measuring the program impact on enterprise activities

Target Group:

Fast-growing Small and Medium Industrial Enterprises.

In collaboration with:

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About Tomoh:

An integrated system that supports fast-growing SMEs, to enhance their growth and help them exceed their predictable pathway, by linking them to service providers and public and private sectors' support bodies, absolutely after conducting an extensive diagnosis of the SMEs businesses and identifying the aspects of their development,For more information about Tamoh services, visit tomoh.sa​. ​



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