Small & Medium sized Enterprises’ Financing Report, Released by Monsha’at

The Public Authority for Small & Medium Enterprises “Monsha’at” launched 1^st report, in a likewise series relating to the small and medium sized enterprises’ sector entitled: “Small & Medium sized Enterprises’ Financing: more solutions & diverse options.

It included information and statistics on programs, initiatives, and services, contributing to accessing appropriate financing solutions and enhancing its competitiveness to be a fundamental pillar for the development of the economy, in the Kingdom of Saudi Arabia and an enabler to achieve Vision 2030 and beyond.

It reviewed statistics of the most prominent financing solutions that it facilitate accessing, including providing loans with a total value of SR11 billion, through the partners of the “Finance Gateway” platform, as loans provided through the portal increased, in 2021 by 884% compared to 2020, while the total loans provided under the indirect lending initiative amounted to SR2.5 billion, while the total financing guarantees issued by the “Kafala” program amounted to SR67.7 billion.

On the other hand, the Saudi Venture Investment company contributed with investments totaled SR1.3 billion.

In addition, through the government fees’ recovery initiative “Refund” the total amount recovered rose to SR3.5 billion.

The report dealt, also, with the beneficiaries of programs, initiatives, and financing services, according to the size of the facility, the sector it falls within, the value of quarterly loans and the remarkable growth, witnessed by the venture capital system and the deals that took place, until the end of 2021.

Moreover, it dealt with financing startups, too, which saw technology companies obtain the highest percentage by 73% of financing directed to newly emerging companies, while it included an overview of financing solutions for the small and medium sized enterprises sector, too, with an outlook for the future set plans, to bridge the current or possibly predicted financing gaps.

https://monshaat.gov.sa/node/8924