Financial Products For SME’s
Gulf Finance offers Shariah compliant financing products to SME customers who are operating in sectors that enhances the overall local economy cycle.
Ijarah product:
GFC offers SME’s Ijarah finance facility on short/medium term financing. Ijarah is a Shariah compliant financing product, where GFC holds the title of the asset until all dues against the contract are paid by the client. GFC Ijarah financing product offers flexible financing product that suits the need of each client and is based on the term, down payment and rental plan.
Assets Type Financing:
- Vehicles
- Equipment
- Machinery plant and production lines
- Fixed and movable assets.
Ijarah Financing Example as of 15 January 2024:
(Amounts in SAR)
|
Monthly payment
|
Tenor
|
Payment term
|
Annual Profit Rate
|
Administration fees
|
Financing amount
|
Asset type
|
|
23,010
|
60 months (max)
|
Monthly
|
7.61%
|
3%
|
1,000,000
|
Vehicle
|
*(The above table is only an example, annual profit and financed amount may change based on financed terms and conditions and customer’s credit worthiness, terms and conditions applies)
Ijarah Financing Example as of 15 January 2024:
(Amounts in SAR)
|
Monthly payment
|
Tenor
|
Payment term
|
Annual Profit Rate
|
Administration fees
|
Financing amount
|
Asset type
|
|
23,010
|
60 months (max)
|
Monthly
|
7.61%
|
3%
|
1,000,000
|
Equipment
|
*(The above table is only an example, annual profit and financed amount may change based on financed terms and conditions and customer’s credit worthiness, terms and conditions applies)
Ijarah Financing Example as of 15 January 2024:
(Amounts in SAR)
|
Monthly payment
|
Tenor
|
Payment term
|
Annual Profit Rate
|
Administration fees
|
Financing amount
|
Asset type
|
|
23,010
|
60 months (max)
|
Monthly
|
7.61%
|
3%
|
1,000,000
|
Machinery plant
|
*(The above table is only an example, annual profit and financed amount may change based on financed terms and conditions and customer’s credit worthiness, terms and conditions applies)
Required Documents
- Facility Request Letter.
- Three Years Audited Financial Statements.
- Bank Statements for Past Six Months.
- Legal Documentation.
- Supplier Quotation (with full details).
- Customer Consent for SIMAH and Bayan.
- Company Profile.
- *(Other documents may require based on business activity).
Murabaha Financing Product:
GFC offers SME’s Murabaha product facility on short/medium term financing. Murabaha finance is Shariah compliant financing product that allows customers to obtain cash facilities to meet their short and medium term financing requirements on Commodity Murabaha structure.
Murabaha Financing Example as of 15 January 2024:
(Amounts in SAR)
|
Monthly payment
|
Tenor
|
Payment term
|
Annual Profit Rate
|
Administration fees
|
Financing amount
|
|
23,010
|
60 months (max)
|
Monthly
|
7.61%
|
3%
|
1,000,000
|
*(The above table is only an example, annual profit and financed amount may change based on financed terms and conditions and customer’s credit worthiness, terms and conditions applies)
Murabaha Financing Example as of 15 January 2024:
(Amounts in SAR)
|
Monthly payment
|
Tenor
|
Payment term
|
Annual Profit Rate
|
Administration fees
|
Financing amount
|
|
57,525
|
60 months (max)
|
Monthly
|
7.61%
|
3%
|
2,500,000
|
*(The above table is only an example, annual profit and financed amount may change based on financed terms and conditions and customer’s credit worthiness, terms and conditions applies)
Murabaha Financing Example as of 15 January 2024:
(Amounts in SAR)
|
Monthly payment
|
Tenor
|
Payment term
|
Annual Profit Rate
|
Administration fees
|
Financing amount
|
|
115,050
|
60 months (max)
|
Monthly
|
7.61%
|
3%
|
5,000,000
|
*(The above table is only an example, annual profit and financed amount may change based on financed terms and conditions and customer’s credit worthiness, terms and conditions applies)
Required Documents
- Facility Request Letter.
- Three Years Audited Financial Statements.
- Bank Statements for Past Six Months.
- Legal Documentation.
- Supplier Quotation (with full details).
- Customer Consent for SIMAH and Bayan.
- Company Profile.
- *(Other documents may require based on business activity).