This program, launched in 2004, is one of the most important programs offered by Bab Rizq Jameel. Young males and females who are interested in starting their own small project but lack the necessary financing are the beneficiaries of this program.
Bab Rizq Jameel offers them interest-free and fee-free financing starting from SR 10,000 to a maximum of SR 150,000 with a repayment period that can extend up to 4 years. Projects financed by Bab Rizq Jameel cover a wide range of industries from service to industrial to production. The goal is to support job creation for young males and females through new project development or expansion of existing projects.
Bab Rizq Jameel has provided support for more than 11,000 projects throughout the Kingdom.
Terms of Small Project Finance Program
1. Applicant must a Saudi national
2. The project must be started in the same city in which the applicant lives
3. In the age group 20 to 60
4. Applicant should be full-time dedicated to work in the project. However, an exception is made to the employee who is receiving a salary less than SR 2500 a month and has a strong motivation to improve his income
5. Applicant should enjoy the experience and ability to run the project
6. Applicant should pass the interview
7. Applicant should bring a guarantor