A Receivables Finance financing product enables small and medium enterprises to finance due invoices or contracts for suppliers within the small and medium enterprise sector payable to either government, semi-government agencies or large companies for a period of up to 12 months for waiving the invoices or contracts revenues with a chance to financing up to SAR 5 million and 90% of the value of invoices or contracts, with easy and affordable terms and competitive prices, without the need to submit financial statements.
Financing advantages:
- Financing up to SAR 5 Million.
- Competitive rates and fees.
- Short financing study time.
- Financing up to 90% of the invoice value.
- Flexible and easy financing terms.
Finance Limits:
- SAR 5 Million maximum financing limit.
- Non-Revolving Limit.
Financing terms and requirements:
- Entity's Age must be one year or above based on CR.
- Project owner/ Buyer must be government, semi-government, or big privet companies.
- Submitting all needed documents and contact data of the project owner/ Buyer and assign payments to the escrow account.
- Positive SIMAH records for the entity and the owners is required.
Finance Type:
Be’a Ajil
Finance Tenor:
12 Months
Repayments:
Monthly or through the payments received from the project owner / buyer, whatever comes first.
Finance Pricing and fees:
Depends on the nature of the financing and varies according to the creditworthiness and the customer’s relationship with Alinma.