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

The Sixth Financing Program

Financing Contracts and Business Opportunities for Oman Investment Authority Subsidiaries

A specialized funding initiative designed to support contract-based projects (tenders or purchases) by enabling financing based on an official letter of award from the contracting entity, along with a request for payment or work execution within a defined timeframe.

Existing SMEs awarded government-backed contracts (tenders or purchases)
Contracts supported by government agencies or government companies (Oman Investment Authority)
All economic sectors

All Sectors

Up to 2%, as determined by the concerned authority

Financing limit up to OMR 250,000 (as per the decision of the competent committee), the percentage of the Authority's funding and self-contribution to the cost of the project.

The Committee may stipulate a percentage of the applicant's contribution to the project under funding, subject that it does not exceed (10%) of its investment cost.

To be eligible for SME financing from the Authority, the applicant must meet the following criteria:

1. To be an Omani national.

2. To be between 18 and 55 years old at the time of application.

3. Successfully complete the program prepared by the Authority to assess their readiness to manage the project subject to financing.

4. Does not have existing funding from the Authority, except for applications for additional funding for existing projects.

5. Having a sound financial and credit record that allows them to obtain financing.

6. Have no record of felony or dishonesty crimes unless he has been rehabilitated.

7. Commitment to practicing the activity in question and obtaining a Riyada card after approval of the financing.

Apply through Oman Development Bank website and complete the requirements related to the evaluation process.

1. Entrepreneur Readiness License.

2. A copy of the ID card and one photograph.

3. A copy of the social security card for those benefitting from the social security.

4. Certificate of non-conviction.

5. Commercial records, licenses and documents related to the project.

6. Audited financial accounts and bank statement of the Establishment.

Payments aligned with project completion stages or financial disbursement conditions oRepayment term must not exceed 24 months

Determined by the competent committee, with a maximum limit of 3 months