Monsha’at Concludes the Funding Week with a Bundle of Agreements and Launches to Support Entrepreneurs

Thursday 28 September 2023
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Monsha’at concluded the Funding Week in partnership with Saudi banks and the participation of various government entities and sectors involved in financing SMEs. The week marked the signing of several agreements and memoranda of understanding between Monsha’at and a group of financial institutions and specialized companies. 
Throughout the week, entrepreneurs had the opportunity to access consultations and financial solutions from participating entities. Support Centers hosted a cadre of esteemed experts in the field of financing SMEs, including Abdulrahman bin Mansour, Acting CEO of the Small and Medium Enterprises Bank, , who presented an informative session on the bank's products and addressed beneficiaries' inquiries. Several Saudi banks also participated to introduce their notable financing products tailored for entrepreneurs and SMEs.
During the Financing Week, more than 22 meetings and workshops were held, in addition to the participation of 42 financing entities in the week's events, which took place at SMEs Support Centers in Riyadh, Jeddah, Al-Khobar, and Al-Madinah. The number of registered attendees for the week's events exceeded 8,000 beneficiaries, including entrepreneurs and owners of SMEs.
Additionally, during the Financing Week, the "Your Fund in Two Days" initiative was launched by the Small and Medium Enterprises Bank in partnership with several financial institutions, including Al-Bilad Bank, Arab National Bank, and Alawwal Bank. The initiative aims to expedite the approval process for financing requests and credit approvals. It also aims to familiarize enterprises and visitors to the centers with the diverse financing products and joint financing programs offered by the bank.
Fares Al-Abduljabbar, the Executive Director of SME Financing at the Social Development Bank, emphasized during his speech at the SMEs Support Center, concurrent with the Financing Week, the bank's commitment to developing tailored plans and programs to bridge the gap for beneficiaries, including freelancers and productive families. These plans and programs help them transform into successful entrepreneurs with sustainable and viable projects. This aligns with the bank's ongoing efforts to provide developmental and training programs and workshops, in collaboration with Monsha’at, to support entrepreneurs and design financing programs in partnership with external entities. These programs include financial portfolios aimed at stimulating and supporting promising sectors.
By organizing specialized weeks like the Funding Week, Monsha’at remains dedicated to its role in opening doors for SMEs. These collaborative efforts with partners aim to provide entrepreneurs with opportunities for developing their enterprises, ensuring their sustainability and expansion.

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