Small and Medium Enterprises Development Authority - funding-programs-related-to-the-authority-desc

Third Financing Program

Working Capital and Fixed Assets Finance

This program provides specialized financing for working capital requirements and fixed asset investments, ensuring the continuity of daily operational expenses, including: Procurement of raw materials, semi-finished goods, and inventory Salaries and wages Transportation and logistics expenses Maintenance and spare parts Other essential costs related to production and operations

Existing SME projects

· Manufacturing Industries

· Technology Sectors

· Natural Resources Sector

Commercial & Service Projects

Up to OMR 100,000, subject to approval by the concerned committee.

The Committee responsible for reviewing applications for financing may require the applicant to contribute a percentage of the project's investment cost, provided that it does not exceed 10% of the total cost.

Applicants must:
Be an Omani national.
Possess appropriate qualifications or relevant experience for managing the project.
Be between 18 and 55 years old at the time of application.
Successfully complete Authority-approved training programs for project establishment and management.
Demonstrate financial and credit stability to qualify for financing.
Shall not have been convicted of felonies or crimes involving dishonesty or moral turpitude, unless rehabilitated.
Upon financing approval:

· Establish a small or medium enterprise (SME) for the funded project and obtain Riyada card.

· Commit to full-time project management; if partners are involved, at least one must be full-time. In all cases, the joint financing shall not exceed the specified limit for the financing product

1. New Project (Establishment)

· Economic Feasibility Study for the project.

· Entrepreneur’s Readiness License.

· Copy of ID Card and one recent photograph.

· Social Security Card (for applicants covered by the Social Security Scheme).

· Academic qualifications (if applicable), work experience, and CV.

· Non-conviction certificate from the Royal Oman Police.

· Two quotations (not older than six months) for each essential project item and required equipment.

2. Existing Projects (Upgrade & Expansion)

In addition to the documents listed above, applicants must submit:

· Commercial registration, licenses, and relevant business documents.

· Copy of Oman Chamber of Commerce and Industry membership certificate.

· Domestic Work License (for home-based projects).

· Bank statement covering the last 12 months.

· Audited financial statements for the last two years.

Up to 10 years, commencing after the grace period, with terms determined by the competent committee based on the project’s nature and repayment timeline.

Up to two years, starting from the final disbursement date, subject to evaluation and approval by the competent committee