Tourism Development Fund, the national enabler of the tourism sector, launched the “Enabling Tourism” programs to provide comprehensive financing solutions to support micro, small and medium enterprises in the tourism sector that will contribute to providing a business environment full of opportunities, in cooperation with partners from commercial banks, government agencies, financing companies, and financial technology companies that contribute to facilitating access to competitive and flexible financing solutions and building a credit relationship for enterprises with financing entities The programs also include various solutions that enable these establishments to achieve their vital role in the national economy and their contribution to achieving the tourism sector targets, including co-financing solutions in cooperation with commercial banks, which contributes to enhancing the ability of these establishments to grow and expand their projects, in addition to financing various products with flexible payment periods of up to 60 months.
The programs also include various solutions that enable these establishments to achieve their vital role in the national economy and their contribution to achieving the goals of the tourism sector, including co-financing solutions in cooperation with commercial banks. The Tourism Fund provides the Finance Companies Program, one of the financing programs developed by the Tourism Development Fund in cooperation with finance companies licensed by the Saudi Central Bank.
The Finance Companies Program is one of the financing programs developed by the Tourism Development Fund in cooperation with finance companies licensed by the Saudi Central Bank. It aims to provide support to micro, small and medium enterprises and expand their scope in the tourism sector through financing solutions that suit their needs, such as working capital and capital expenditures, which reflects on the quality of tourism services.
Through the "Enabling Tourism" programs, the Fund also offers financing options through financial technology companies that enable micro and small enterprises to grow in a modern and advanced work environment, characterized by a faster financing period and technical services that facilitate the access of support to all regions with flexible payment periods of up to 12 months, in addition to the Kafala program, which aims to overcome the challenges facing micro, small and medium enterprises that do not have the ability to provide the necessary guarantees to obtain financing and cover the deficit in the event of failure of the enterprises, thus supporting the confidence of financiers and ensuring the continuity of these projects.
It is noteworthy that the Fund does not have the ability to provide the necessary guarantees to obtain financing and cover the deficit in the event of default of the enterprises, which supports the confidence of financiers and ensures the continuity of these projects.
It is noteworthy that the Tourism Development Fund provides direct and indirect financing solutions that meet the needs of investors wishing to invest in the tourism sector, through several products designed for them with the aim of developing an integrated tourism environment, as well as enabling the private sector, investors and entrepreneurs to participate in building a promising tourism sector, which contributes to building a sustainable development of the tourism sector in the Kingdom.
The Tourism Development Fund provides direct and indirect financing solutions that meet the needs of investors wishing to invest in the tourism sector, through several products designed for them.
