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 POS Financing Program

 POS Financing Program

22-06-2023
The POS Financing Program by Bank Albilad is offered to Micro and Small Enterprises to support their operational needs and expansions for up to  6 million riyals from some scopes , against cash inflow from point of sale devices for the last 12 months.



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Features of POS financing program


  • Facilities up to 6 million riyals
  • Financing period up to 36 months
  • Grace period up to 6 months
  • Settlement on Monthly Instalments 

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General Requirements 


  •  Minimum 2 years in business, as per Commercial Registration
  •  Availability of POS devices from Bank Albilad or any other bank, for a minimum period of 12 months

​FAQs


What is the meaning of POS collection ?

It is the revenue from business through POS  

How to calculate the maximum limit of financing ?

the maximum limit of financing will be calculated by 20% of POS revenue and limited to SAR 6 million for period of 12 months 

What is the mechanism of Grace Period ?

The tenor is including 6 months Grace Period (first 6 months) as POS program is under LGP 

Does the program include fees?

Yes, between 1% to 2%

An example of how the POS Financing Program is calculated:


Type of Financing

POS Financing Program

Financing Calculation Method

Amount X Profit Rate/ 360 X No. of Days

Amount

  20% of cash inflow from point of sale devices for the last 12 months 

Profit Rate

4%

Profit Calculation Method

Annual

No. of Financing Days

180

Profit

 20,000.00

* Terms and conditions apply

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All Rights Reserved © 2023 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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