Organization : Saudi Industrial Development Fund
Facility : Apply for Non-Borrowing Certificate
Country : Saudi Arabia
Website : https://www.sidf.gov.sa/en/Pages/Home.aspx
SIDF Apply for Non-Borrowing Certificate
To Apply for Non-Borrowing Certificate you have to follow the below Steps,
Related : SIDF Apply For Loan Saudi Arabia : www.statusin.org/5351.html
1. Enter your mobile number to check from the number for you
The mobile number Format is – 05XXXXXXXX
2. Click on the Submit button.
Important Information for Investors
1) Please refer to industrial sectors which are non-commercially viable in the local market.
2) Investors are advised to contact one of the Customer Services staff to discuss ideas and requirements before applying for loan.
3) The Fund does not finance the following :
** Projects which commenced commercial production since more than one year.
** Used machinery, equipment and motor vehicles, or those imported since more than one year.
** Used or imported furniture or employees / labors housing furniture.
** Buildings older than 2 years and imported steel hangers as well as employee housing buildings.
4) A consulting firm should be employed during project’s implementation.
5) An auditing firm must be employed to audit the project ‘s financial accounts throughout the term of SIDF loan.
6) National labor recruitment plan must be arranged.
Frequently Asked Questions
1. What are the cases for loan rescheduling?
Taking into account the maximum balance repaid of the loan, and providing the borrower a further opportunity for repay, maturity rescheduling can be considered in the following cases
** Delays in implementation of the project resulted in delay in the planned date set for start-up of the commercial operation.
** Some marketing issues and adverse market conditions, in addition to project’s inability to generate enough cash flows.
** Economic conditions related to work environment of the industrial sector in general affecting the project performance.
In all circumstance The borrower should submit re-scheduling proposal including updated study on the project evaluating marketing and economic conditions, supported by updated and audited financial statements, and borrower’s commitment to spare no effort to handle difficulties faced by the project.
2. How pre-operational costs are calculated?
Pre-operational expenses include all costs incurred in the course of the project implementation, such as cost of M&E commissioning, wasted raw materials, design and supervision of the project buildings, travels, feasibility study, advisory services and respective license fees. Credit and Technical Consultancy Divisions shall decide on the items listed in the shaded areas.
3. How mortgage process is implemented?
Attached to the loan agreement is the mortgage document which clearly describes the fixed or movable assets that are intended to be mortgaged to the Fund, specifying the land area, date of the lease contract, date, number and issuer of the deed of title of the land, general description of the project buildings, facilities, machinery and equipment, and other items to be mortgaged.
It is noteworthy that the mortgage document shall be attached only to Arabic text of the loan agreement, clearly referred thereto in the English text.
4. Is it possible to have SIDF loan maturity rescheduled?
In certain cases, and after studying the economic and financial status of the project, and in case the borrower is unable to repay in accordance with the maturity schedule for reasons beyond his control such as economic or operating conditions, repayment maturities may be rescheduled.
It is noteworthy that each case is treated on its own merits, with consideration to the maximum period of loan repayment .
5. What is the draw down period of an approved Loan?
That depends on completing the legal procedures regarding signing the loan agreement and the estimated time for establishing the project as well as providing all the required documents and the disbursement requisites.
So, the draw down period is determined for each project on its own merits; it may be extended depending on the implementation status of the project.