Contracting Finance Product for Micro, Small & Medium Enterprises - anb
Contracting Finance product for Micro, small & medium enterprises
Contract financing from anb allows contracting and construction sector to be granted a combination of financing limits for client’s projects including: performance guarantee, Advance payment guarantee, progress proceeds finance and mobilization loan.
Product Features
Financing up to 5 million riyals
Competitive rates and fees
Flexible and simplified terms & conditions for granting the product
No financial statements required
Fast approvals
Product limits
- Maximum limit up to 5 million riyals.
- One off performance guarantees up to 5%
- One off advance payment guarantees up to 20%
- Progress proceeds / Invoices finance up to 60%
- One off mobilization loan up to 10%
Product Period
- One off performance guarantees up to 36 months
- Progress proceeds / Invoices finance up to 180 days
- One off mobilization loan up to 24 months
Terms and requirements
- 3 years operations is a minimum requirement (from the issue date of CR).
- Only accredited list governmental and semi-governmental projects are accepted.
- Past and ongoing project schedule.
- Assignment and endorsement of the legitimate assignment of the letter of guarantee.