The Social Development Bank expands the circle of financing for investors and entrepreneurs through the “Ofoq” product

The Social Development Bank launched the “You Can Grow” campaign, which aims to expand the financing circle for investors and entrepreneurs through the “Ofoq” product. The bank designed this product to finance companies and institutions with an amount of up to 10 million riyals for existing establishments whose presence in the market exceeds 3 years.

The “Ofoq” product for financing existing establishments is an embodiment of the bank’s strategic directions in supporting small enterprises with the aim of increasing their contribution to the local economy and creating job opportunities for citizens. The product aims to finance establishments operating in the fields of industry, education, quality of life, entertainment, tourism, technology, retail, And other vital sectors with economic feasibility.

It is worth noting that the bank offers a package of support programs to enable entrepreneurs to continue their business projects as part of supporting the entrepreneurship system, and provides financial and non-financial solutions by providing appropriate financing and specialized training and consulting services, including the Dilni Business Center, which provides training and guidance to owners of emerging and small enterprises. The Empretech program is a program for building and developing entrepreneurial behavioral indicators that business owners in emerging and small enterprises need.

Those wishing to benefit from financing the Ofoq product, and to learn more about it, can visit the bank’s website
https://www.sdb.gov.sa/ar-sa/horizon-2