Secured Overdraft

SME Secured Overdraft is a Sharia compliant overdraft facility designed specifically for SMEs to meet working capital needs.

Benefits

• Flexibility to draw funds at own convenience
• Financing cost proportionate to the facility utilization
• A flexible way to meet regular cash flow requirements

Purpose of facility

• Pay salaries
• Pay rent
• Meet other running expenses

Key Product Features

• Max Finance amount: upto SAR 12 million
• Facility valid for one year with annual renewal
• Acceptable Collateral includes Cash/ Term Deposits, Bank Payment Guarantees and Shares

Eligibility

• Any business – establishment, general partnership or limited liability company which has been in business for more than 3 years
• Business turnover between SAR 1 million and SAR 30 million

Bank terms and conditions apply.

Next Steps

Please contact our SME Centers to fix a convenient appointment with our sales staff who will be pleased to visit you at your office.