Features & Benefits
The most distinguished feature of Kafala Program is the finance period that reaches 7 years. However, the period may be extended subject to the Bank's approval. The finance amount, period and cost will be determined by the bank based on reviews of financial documents.
One enterprise can obtain more than one finance product, provided that the total Kafala amounts of the enterprise must not exceed SAR 15 million.
SNB offers Kafala program to achieve the below purposes:
1) Working Capital finance (short term - less than a year)
a. Bill proceeds financing
b. Operating expenses financing
2) CAPEX financing (medium term - from 1 to 3 years)
a. Financing the purchase of machinery and equipment
b. Financing the opening, equipping and expansion of new branches
1) Letters of Guarantee (Bid Bond / Final / Financial / Advance Payment)
2) Letters of Credit (Sight / Deferred)