Monshaat signs agreement with STC Bank to provide financing products through SAR 5B portfolio

Snapshot of the agreement signing

The General Authority for Small and Medium Enterprises (Monshaat) signed a cooperation agreement with STC Bank to provide Shariah-compliant financing solutions and products through a financing portfolio of up to SAR 5 billion, targeting micro, small and medium-sized enterprises across various economic sectors.

According to the Saudi Press Agency (SPA), the agreement covers a financing program offering short-, medium- and long-term facilities, both cash and non-cash, with tenors of up to 10 years.

The facilities will cover working capital and operational needs, the purchase of assets and equipment, financing against point-of-sale proceeds, and contract and project financing. They will also support e-commerce businesses and provide invoice and receivables financing, business credit cards, supply chain financing, as well as trade finance services through guarantees and letters of credit.